US Energy Systems Inc fka USEY

[stock2windaily]

his is interesting:

As previously reported on January 16, 2008, U.S. Energy Systems, Inc. (the "Company") and two of its subsidiaries, U.S. Energy Overseas Investments LLC and GBGH, LLC, filed voluntary petitions to commence cases under chapter 11 of Title 11 of the United States Code on January 9, 2008 in the United States Bankruptcy Court for the Southern District of New York (the "Bankruptcy Court"). On August 22, 2008, the Company and the two subsidiaries filed Plans of Reorganization (the "Plans") with the Bankruptcy Court. The Plans remain subject to modification and revision.

On November 20, 2008, the Company and the two subsidiaries filed a motion with the Bankruptcy Court requesting an extension of the exclusive period during which the debtors have the exclusive right to solicit acceptances of the Plans from December 5, 2008 to February 27, 2009. The extension was requested to allow the debtors more time to complete negotiations with Silver Point Finance, LLC regarding a stalking horse agreement for the sale of the stock or assets of U.S. Energy Biogas Corp. and for the restructuring of the GBGH, LLC pursuant to a term sheet between the parties. The Company anticipates in the next two to four weeks (a) finalizing the stalking horse agreement and (b) incorporating the term sheet into the Plans and filing such amended Plans with the Bankruptcy Court.

http://biz.yahoo.com/e/081125/useyq.pk8-k.html