Replies to post #2788 on P10 Industries Inc. (PX)

[Slojab]

Here it is.

P10 Industries, Inc., formerly Active Power Inc., update on expedited hearing to seek approval for a number of administrative matters

Apr 05, 2017

AUSTIN, Texas, April 05, 2017 (GLOBE NEWSWIRE) -- P10 Industries, Inc. (OTC:PIOIQ), formerly Active Power, Inc., today announced the results of the expedited hearing on P10 Industries, Inc.’s: (1) Expedited Application of P10 Industries, Inc. for Order Pursuant to 11 U.S.C. §§ 327, 328 and 329 and Fed.R.Bankr. P. 2014 and 2016 Authorizing Employment and Retention of Eric Terry Law, PLLC as Counsel for Debtor (the “Terry Law Motion”); (2) Debtor’s Expedited Motion for an Order Authorizing Employment and Payment of Professionals Utilized in the Ordinary Course of Business (the “Ordinary Course Professionals Motion”); and (3) Debtor’s Application for Order Pursuant to Bankruptcy Code Section 327(e) and Bankruptcy Rules 2014 and 2016 Authorizing Employment and Retention of Reiter, Brunel & Dunn, PLLC as Special Counsel to the Debtor in Possession (the “Special Counsel motion”). These motions were all granted by the Honorable Craig A. Gargotta, U.S. Bankruptcy Court, San Antonio, Texas.


“We are happy that Judge Gargotta granted our motions today and that the pre-packaged bankruptcy process is progressing as planned,” said Mark A. Ascolese CEO of P10 Industries, “the next important hearing will be on April 26th when we will be seeking approval of the plan we filed on March 22”.

The company filed its voluntary chapter 11 petition and the Plan in the U.S. Bankruptcy Court for the Western District of Texas in San Antonio.