The U.S. Bankruptcy Court approved Peabody Energy’s third motion to extend by 60 days the exclusive period during which the Company can file a Chapter 11 plan and solicit acceptances thereof through and including May 1, 2017 and June 30, 2017, respectively.
As previously reported, “Extending the Exclusive Filing Period out of an abundance of caution to align with the expiration of the Exit Facility commitment is prudent and in the best interest of the Debtors. This will ensure that the Debtors and the Creditor Co-Proponents have the utmost flexibility in finalizing the solicitation of the Solicitation Plan and moving to confirmation and, if successful, consummation thereof to ensure successful reorganization of the Debtors….Extending the Exclusivity Period will assist the Debtors in moving expeditiously toward confirmation and, if approved, consummation of the Solicitation Plan.”
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