Tag: Bankruptcy
Can there be a coal comeback?
Indian coal demand likely to grow in years ahead, but won’t make up for slow-down in China Trevor Houser, Jason Bordoff and Peter Marsters from the Center On Global Energy Policy offer an empirical diagnosis of the causes of the US coal industry collapse over the last six years, which has been characterized by bankruptcy […]
Peabody Energy emerges from Chapter 11 bankruptcy protection
Peabody Energy to trade on NYSE under ticker symbol BTU On Monday, Peabody Energy announced it has emerged from Chapter 11 protection with a transformed capital structure, including new equity. The company is expected to begin trading on Tuesday on the New York Stock Exchange under the ticker symbol BTU. Peabody, the world’s largest private-sector […]
Chaparral Energy aims to sell pipeline in push to exit bankruptcy
Chaparral Energy bankruptcy exit partially funded by asset sales By Jim Christie SAN FRANCISCO, Feb 21 (Reuters) – Chaparral Energy Inc aims to have its bankruptcy exit plan confirmed next month, which may require suing a co-owner of a carbon dioxide pipeline to advance the sale of the asset, the bankrupt oil and gas producer […]
Rebel creditors file emergency appeal against Peabody Energy reorg
Peabody Energy accused of undermining “creditor democrasy at the core of Chapter 11” By Tracy Rucinski CHICAGO, Feb 6 (Reuters) – Opponents of Peabody Energy Corp’s reorganization plan have filed an emergency appeal against a key piece of the coal producer’s proposal they say violates U.S. bankruptcy law by prematurely requiring creditors to promise support it. […]
Vanguard Natural becomes latest oil firm to file for bankruptcy
Vanguard Natural says it has sufficient liquidity during Chapter 11 process Feb 2 (Reuters) – Oil and natural gas explorer Vanguard Natural Resources LLC filed for bankruptcy protection, adding to a long list of energy firms that have succumbed to weak oil prices. The Houston-based company said it signed an agreement with certain bondholders that includes […]
Peabody Energy gets U.S. court approval to pursue reorganization
Peabody Energy looking to emerge from bankruptcy in April By Tracy Rucinski ST. LOUIS, Jan 26 (Reuters) – Peabody Energy Corp , the world’s largest private-sector coal miner, can begin seeking creditor votes for a plan to cut $5 billion of debt and exit its Chapter 11 bankruptcy, a U.S. bankruptcy judge said on Thursday. U.S. […]
Peabody Energy, shareholders face off in bankruptcy court
Peabody Energy not ‘hopelessly insolvent’: Hedge fund By Tracy Rucinski ST. LOUIS, Jan 19 (Reuters) – Peabody Energy Corp , the world’s largest private-sector coal producer, is squaring off in court with shareholders who claim their stock should not be wiped out in the company’s $8 billion Chapter 11 bankruptcy, given a rise in prices for […]
U.S. watchdog calls Peabody Energy bankruptcy plan fees ‘exorbitant’
Peabody Energy looking to transfer funds from bankruptcy estate before plan approved By Tracy Rucinski CHICAGO, Jan 18 (Reuters) – The U.S. government’s bankruptcy watchdog objected on Wednesday to certain parts of Peabody Energy Corp’s plan to slash $5 billion of debt and exit Chapter 11, calling a proposed $240 million in transaction fees “exorbitant,” court […]
Peabody Energy secures $1.5 billion in financing to exit Chapter 11
Peabody Energy entered bankruptcy in 2016 CHICAGO, Jan 12 (Reuters) – Peabody Energy Corp said on Thursday that a group of banks, including affiliates of Goldman Sachs Group Inc and JPMorgan Chase Bank, has pledged a combined $1.5 billion in loans to help the coal producer exit bankruptcy in the coming months. The cash will be […]
US coal industry hopes for respite after perfect storm: Kemp – Reuters News
Coal market rebalancing will have ripple effects through supply chain, especially on railroads, diesel market By John Kemp LONDON (Reuters) – US coal producers have been struck by a range of structural and cyclical factors that hit consumption hard and forced many of them to seek bankruptcy protection during 2015 and 2016. The problem of excess coal […]
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