The sale of the Glacial Energy retail suppliers will not occur until the buyer, Platinum Partners Value Arbitrage Fund LP, receives regulatory approvals from certain states that it is licensed as a retail supplier

Specifically, in a filing made with the Pennsylvania PUC, Glacial Energy of Pennsylvania, Inc. said the following:

"The assets of Glacial PA have been sold following a bankruptcy auction to a group named Platinum Partners. Platinum Partners submitted a higher bid than Vantage, which had been identified as the most likely buyer in the prior status report. The sale order was entered on June 17, 2014 and Platinum paid the full purchase price on June 18. No assets have transferred as of the date of this submission. It appears that the asset transfer will not take place unless and until Platinum has obtained all necessary regulatory consents or approvals including, with respect to Pennsylvania, confirmation that Platinum is an EGS licensed by the Pennsylvania PUC. Glacial will wind up its operations promptly thereafter."

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Glacial Energy   Platinum Partners  

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