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Walter Energy Extension Approved

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According to the U.S. Bankruptcy Court docket, the Court approved Walter Energy’s second motion to extend the exclusive period during which the Company can file a Chapter 11 plan and solicit acceptances thereof through and including July 9, 2016 and September 7, 2016, respectively.

As previously reported, “The Debtors have made significant progress in these Chapter 11 Cases since they obtained their first exclusivity extension in November 2015. Notably, the Debtors obtained the relief requested in their motion under Sections 1113 and 1114 of the Bankruptcy Code (the ‘1113/1114 Motion’).”

The motion continued, “The Debtors and their advisors are currently working diligently to ensure the consummation of the Core Assets 363 Sale with Coal Acquisition, LLC. The Core Assets 363 Sale will preserve the Alabama Coal Operations as a going concern, thus saving jobs and maximizing stakeholder value. The Second Extension Period requested in this Motion preserves the opportunity for the Debtors to propose a chapter 11 plan in connection with the resolution and wind-down of these Chapter 11 Cases.”

Read more WLT energy bankruptcy news.

The post Walter Energy Extension Approved appeared first on Daily Bankrupt Company Updates | Bankrupt Company News.


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