June 7, 2019 / 12:42 PM / in 9 days

Sale of Westmoreland’s Kemmerer coal mine satisfies ‘need for speed’ - judge

Westmoreland Coal’s plan to sell its last remaining mine to a group of secured lenders for a credit bid of at least $300 million won approval on Wednesday, less than two weeks after the company filed the proposal in bankruptcy court in Houston, Texas.

U.S. Bankruptcy Judge David Jones said the sale of the 13,400-acre surface coal mine in Kemmerer, Wyoming, was justified in light of Westmoreland’s inability to find another buyer after a planned sale fell through in April, despite “aggressive marketing” efforts by the company.

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