(Updates with customers in third paragraph.)
Oct. 24 (Bloomberg) -- Southern Montana Electric Generation & Transmission Cooperative Inc., a provider of electrical power to utility cooperatives in Montana, filed for bankruptcy protection.
The company listed assets and debt in the range of $100 million to $500 million each in Chapter 11 papers filed Oct. 21 in U.S. Bankruptcy Court in Butte, Montana.
Southern Montana Electric, based in Billings, Montana, was formed by five cooperatives that distribute power to about 65,000 Montana residents, according to its website. The company also supplies electricity to the city of Great Falls, Montana, with a population of about 57,000.
The 20 largest creditors without collateral backing their claims are owed a total of $19.5 million, court papers show. PPL EnergyPlus LLC is the biggest, with a claim of $7.6 million.
Jon Doak of Doak & Associates PC in Billings, the attorney who filed the petition, didn’t immediately respond to an e-mail seeking comment on the filing.
The case is In re Southern Montana Electric Generation and Transmission Cooperative Inc., 11-62031, U.S. Bankruptcy Court, District of Montana (Butte).
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