Quantcast
Channel: Daily Bankrupt Company Updates | Bankrupt Company News
Viewing all articles
Browse latest Browse all 4593

Armstrong Energy Bankruptcy Objection Filed

0
0

Louisville Gas and Electric (LG&E) and its affiliated Kentucky Utilities (KU) filed with the U.S. Bankruptcy Court an objection to Armstrong Energy’s Second Amended Joint Plan of Reorganization.

The objection asserts, “A material aspect of the Plan is the Debtors’ anticipated assumption of contracts under which they sell coal to LG&E and KU and the assignment of those contracts to an affiliate (‘NewCo’) of Knight Hawk Holdings, LLC and certain secured creditors of the Debtors. The Debtors, Knight Hawk, LG&E and KU have negotiated an agreement in principle regarding the terms of those assumptions and assignments, but are still memorializing those discussions and resolving the last points. As a result, the Plan does not yet reflect the anticipated assignment terms. LG&E and KU object to the assumption and assignment of any contracts to which either is party, and to confirmation of any Chapter 11 plan, on any terms affecting either of them other than those now being memorialized. This Limited Objection is likely to be resolved in the near future with additional language in a new version of the Plan, in a confirmation order, or both.”

Read more Armstrong Energy bankruptcy news.

The post Armstrong Energy Bankruptcy Objection Filed appeared first on Daily Bankrupt Company Updates | Bankrupt Company News.


Viewing all articles
Browse latest Browse all 4593

Latest Images

Trending Articles





Latest Images