Share “Bankrupt Mont. power co-op trustee offers...”

Bankrupt Mont. power co-op trustee offers proposal

Published on NewsOK Modified: December 14, 2012 at 7:35 pm •  Published: December 14, 2012
Advertisement

Parks says the reorganization plan would include all six members unless alternative arrangements are approved by the court.

"I hope that members will see the economic benefits of the power that will be provided under that long term purchase agreement and also see the economic benefit of continuing to own the Highwood Generation Station and, eventually, when the debt is paid off, own it free and clear," he said.

An attorney for Beartooth Electric, Martin Smith, said more details were needed before his client could decide whether to support the proposal.

"It's not fleshed out," Smith said. "This is saying, 'Would you like to buy a blue car.' We'd like to know more about the car before we buy it."

Parks says it will be another 45 to 60 days before a full reorganization plan is submitted.