July 26, 2019 / 11:22 AM / 2 months ago

Blackjewel proposes selling coal mines to Contura to avoid liquidation

Bankrupt coal producer Blackjewel LLC asked a West Virginia bankruptcy judge to sign off on a deal to sell three mines to Contura Energy Inc for $20.6 million in cash unless it gets a better offer by the end of the month.

Blackjewel’s lawyer, Stephen Lerner of Squire Patton Boggs, told U.S. Bankruptcy Judge Frank Volk of the Southern District of West Virginia that the company has no other options to raise funds other than its deal with Contura.

To read the full story on Westlaw Practitioner Insights, click here: bit.ly/2ZnYOd6

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