January 26, 2018 / 12:22 AM / 10 months ago

Murray Energy creates new coal company from bankrupt Armstrong

Murray Energy Corp and secured noteholders of bankrupt Armstrong Energy Inc plan to form a new company from Armstrong’s assets, the two coal miners said on Wednesday.

A subsidiary of privately held Murray will invest $19 million for a 51 percent stake and the noteholders will get the remaining 49 percent of the new company, according to court papers filed by Armstrong and a statement from Murray.

To read the full story on Westlaw Practitioner Insights, click here: bit.ly/2E9Fg2D

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