June 13, 2019 / 2:00 PM / in 14 days

Cloud Peak says strikes critical deal with noteholders for its Ch. 11

Coal producer Cloud Peak Energy Inc said on Tuesday it settled a dispute with some of its noteholders that threatened its ability to get financing and its plan to sell itself while in Chapter 11 bankruptcy.

Cloud Peak in a filing in U.S. Bankruptcy Court in Delaware said the dispute had created “substantial ambiguity” about the status of the noteholders’ liens and held the prospect of litigation that could chill bidding, which would complicate its debtor-in-possession financing.

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