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Arch Coal Extension Sought

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Arch Coal filed with the U.S. Bankruptcy Court a motion for an order extending the Debtors’ exclusive period during which the Company can file a plan from September 7, 2016 to October 7, 2016.

The motion explains, “The Debtors’ demonstrated progress in resolving many issues that have arisen since the Petition Date justifies the requested extension of the Debtors’ Exclusive Filing Period….The Debtors have already taken numerous major steps in these reorganization proceedings, including filing the Plan and Disclosure Statement and soliciting votes thereon, and are on track to confirm the Plan at the Confirmation Hearing in accordance with the RSA milestones.”

The motion continues, “The Plan is the product of extensive negotiations between the Debtors and their various constituencies and takes into account the complexity of the Debtors’ businesses. While the Debtors remain confident that the Plan will be confirmed on September 13, 2016, to the extent confirmation is delayed, an extension of the Exclusive Filing Period would allow the Debtors time to resolve any intervening issues and confirm the Plan, which enjoys support from key creditor groups.”

Read more Arch Coal bankruptcy news.

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