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Southern Bankruptcy Documents 2013

Following are the court documents and reports regarding the bankruptcy of Southern Montana Electric Generation and Transmission Cooperative. Please click on the file name to view.

Southern's member co-ops provided a second amended Disclosure Statement and plan of liquidation.

1221 - Second Amended Disclosure Statement - Members - Filed December 31, 2013

 

Approval of stipulation to extend cash collateral - Filed December 31, 2013

 

Stipulation between Debtor and Noteholders to extend cash collateral agreement - filed December 30, 2013

Proposed Southern Budget - filed December 30, 2013

 

1208 - Application (by Southern) to employ professionals and declaration of co-counsel - Filed Dec. 27, 2013

 

Fergus Electric and Beartooth electric Cooperative filed a motion to convert the Southern bankruptcy to Chapter 7 liquidation on December 27, 2013. This filing says clearly that if a conversion does not occur both Beartooth and Fergus continue to support the liquidation plan filed by the member co-ops. Additional documents are exhibits to support the argument that too much money has been wasted.

Bankruptcy Update to Members - December 5, 2013

 
Revised hearing date set. 
Two orders set January 14 as the revised date for the hearing on the disclosure information for the member's liquidation plan and the Beartooth case to deny use of its wholesale power contract as collateral.  
 
 
Judge grants motion to remove trustee.
The decision was reached on November 26, 2013.
 
Pivotal Filings Regarding the Motion to Remove the Southern Trustee.
The motion will be heard by the court November 12, 2013.
The motion asserts that because of changes in circumstance, there is no longer a need or legal basis for the Trustee to remain in place. These documents include the motion by the member cooperatives of Southern to liquidate Southern and the associated disclosure statement filed with the court. 

1089-2-Motion to postpone certain dates
Filed October 15, 2013

Temple Report to Trustee
Submitted October 1, 2013

Objections to Trustee's Disclosure Statement.
Filed Sept. 18, 2013.

Memo to members re: Latest news about the SME Bankruptcy proceedings
Written August 29, 2013

990-Disclosure Statement
Filed August 14, 2013. 

989-First Amended Chapter 11 Plan
Filed August 14, 2013. 

979-Order to Deny Motion to Convert
The court denied converting the case to Chapter 7. Filed August 7, 2013.

970-1 Southern cash flow projections
This exhibit shows cas flow projections through July 2014. Filed July 29, 2013. 

969-Reponse to TRECO objection
This was response, filed on July 29, 2013, is to the objection filed on July 19 by the Tongue River Electric Cooperative.

947-Objection to Converion
Tongue River objects to Chapter 7 conversion, filed July 19, 2013.

945-Notice of Joinder in Motion to Convert
Fergus Electric joins motion to convert to Chapter 7 filed July 18, 2013.

926-Notice of Reservation of Rights
Beartooth Notice of Reservation of Rights filed July 8, 2013.

Southern Bankruptcy Background

BEC/Southern Timeline of Events

2012 Court Documents
2011 Court Documents

918-Adjourning Filing and Appraisal
Motion filed to adjourn the hearing scheduled for July 28. Filed on June 28, 2013. 

Southern 2013 Financials
Southern's Financial report as of May 2013. 

Analysis of the Souther Trustee's Proposal
PowerPoint presentation by EES Consulting. 

820-Protective Order
The protective order was filed on April 22, 2013. 

816-Trustee's Motion for Valuation of Security, 816-1 Valuation of Highwood Generating Station, 816-2 Valuation of WPC
These filings represent the first step in the process set by the court to value the collateral for Prudential's secured claim for their $85 million HGS loan. The collateral consists of the Highwood Generating Station and the all-requirements contracts Southern has with its member systems, including Beartooth. Prudential will not reach the same valuation conclusions and will no doubt file evidence supporting higher valuations of the plant and the contracts that have been presented as security for the loan. Prudential and the trustee could settle on a value and take that to the court. More likely, the hearing set for July 29 will begin to hear both sides and the judge will reach a decision about value. If the process finds Prudential's claim undersecured, they may elect to file (1111B) to declare their claim secured.  This would open prospects for several lines of legal argument by all impacted parties, including Beartooth. Filed on April 19, 2013. 

806-Stipulation for Rejection of Gas Transport Agreement
The court recognizes the termination of natural gas transport service agreement between Southern and Nova Gas Transmission Ltd. Filed April 15, 2013.

800-1 Proposed Scheduling Order
The order establishes a schedule for future filings and hearings. Filed April 12, 2013.

707-Beartooth objection to Trustee's motion for a protective order
A motion filed by the Beartooth attorney argues that the Trustee does not meet the procedural requirements for a protective order under Rule 7026 and does not meet any other standard of good cause for a protective order or sealing documents filed with the Court. The Court should deny the Trustee’s request for a protective order. Filed March 4, 2013.

701 Reply to Motion for Protective Order doc 699
The City of Great Falls and Electric City Power objection to the proposed protective order. The City of Great Falls wants access to Southern's books, records and information. Published: 03-04-13.

699-1 Proposed Protective Order
Southern trustee's motion to protect documents from disclosure. The trustee has filed a motion for a protective order to prohibit public disclosure of specific documents. He also proposes an order to allow prohibitions on a broad range of documents and other information in this case. Published: 03-04-13.

There is very little detail in the plan—especially financial detail. After sixteen months of bankruptcy proceedings, the financial impact to BEC is still not known. Published: 02-28-13.
 
A report listing actions to date, legal action going forward, important meetings, and a brief version of a presentation to the Trustee on the BEC position on Southern and HGS regarding the request to explore an exit strategy.
 
687 Southern Trustee's Plan
The Southern Trustee's reorganization plan filed with the bankruptcy court on 02-15-13.
 
687-2 Counter Party Information 
Court document filed with Southern Trustee's reorganization plan on 02-15-13.
 
688 Southern Disclosure Statement
Court document filed with Southern Trustee's reorganization plan on 02-15-13.
 
688-2 Schedule of Claims
Court document filed with Southern Trustee's reorganization plan on 02-15-13.
 
688-3 Southern Value Analysis with Balance Sheet
Court document filed with Southern Trustee's reorganization plan on 02-15-13. 
 
Court document filed on 01-08-13.
 
Court document filed on 01-08-13
 
 
 
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