July 26, 2019 / 9:48 PM / 22 days ago

Blackjewel staves off liquidation with court-approved Contura as stalking-horse

Coal producer Blackjewel LLC won bankruptcy court approval at a hearing on Friday to take steps it proposed in a motion a day earlier to sell three mines to Contura Energy Inc to avoid having to liquidate.

Judge Frank Volk of the U.S. Bankruptcy Court for the Southern District of West Virginia said at the hearing he had concerns about Blackjewel’s motion, but agreed the company needs to move quickly on its planned sale as it is at the moment the coal producer’s “only path” to avoid liquidation.

To read the full story on Westlaw Practitioner Insights, click here: bit.ly/314wZHz

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