BILLINGS, Mont. - A bankruptcy judge is considering a key report to Southern Montana Electric Generation and Transmission Cooperative's reorganization plans.
The Billings Gazette reports Friday's hearing in Great Falls is one of two that could resolve the wholesaler's financial problems after 2 1/2 years in bankruptcy.
The 210-page disclosure statement to be considered by U.S. Bankruptcy Judge Ralph Kirscher details the Billings-based co-op's business operations, bankruptcy filing and its reorganization plan.
Southern provides electricity to four cooperatives in Red Lodge, Lewistown, Hysham and Ashland.
If Kirscher approves the report, the plan will go to a May 20 confirmation hearing in Billings.
A member of one of those co-ops, Bruce Austin, filed a late objection that says the report is another baseless reorganization plan without regard to the value of the estate.
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