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James River Coal Company Plan Filed

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According to the U.S. Bankruptcy Court docket, James River Coal Company filed a Second Amended Plan of Liquidation.

The Plan adds the following text, “Upon dissolution of the Liquidating Debtors in accordance with this Section 5.1(a), if the Plan Administrator reasonably determines that any remaining assets of the Liquidating Debtors are insufficient to render a further distribution practicable, or exceed the amounts required to be paid under the Plan, the Plan Administrator shall transfer such remaining funds to a charitable institution selected by the Plan Administrator, which charitable institution shall be qualified as a not-for-profit corporation under applicable federal and state laws.”

The Plan also deletes and otherwise modifies portions of Article IX: Treatment of Executory Contracts and Unexpired Leases. The following Plan Exhibits are also deleted in their entirety: Exhibit A: Plan Administrator Agreement and Exhibit B: Contracts to Be Assumed under Plan.

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