- Associated Press - Monday, May 12, 2014

GREAT FALLS, Mont. (AP) - A bankruptcy judge has given conditional approval to a key report to Southern Montana Electric Generation and Transmission Cooperative’s reorganization plans.

U.S. Bankruptcy Judge Ralph Kirscher on Friday approved the wholesaler’s disclosure statement, pending minor technical changes. The report details its business operations, bankruptcy filing and reorganization plan.

The Great Falls Tribune reports (gftrib.com/1qwDG0O) Kirscher tentatively set a June 2 hearing in Billings in which the reorganization plan could be confirmed.

Southern is proposing to repay creditors a reduced debt of $21 million over four years while keeping customer electric rates at current levels.

Southern has been in bankruptcy proceedings for nearly 2 ½ years since completing construction of the Highwood Generating Station with $85 million it borrowed.

Southern provides electricity to cooperatives in Red Lodge, Lewistown, Hysham and Ashland.

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Information from: Great Falls Tribune, http://www.greatfallstribune.com

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