Justice Department lawyers claim that plans revealed in Alpha Natural Resources bankruptcy proceedings show the company is headed for a Chapter 7 ‘liquidation’ not a Chapter 11 ‘reorganization’.
Alpha Natural Resources
GILLETTE — Rumors about the coal industry are common in northeast Wyoming where strip mining provides 5,000 direct jobs and supports about three times that in the mine services sector. But when Arch Coal filed for Chapter 11 bankruptcy in …
A citizens’ complaint filed Monday asks the Wyoming Department of Environmental Quality to deem Peabody Energy is not in compliance for some $790 million in coal mine reclamation liability.
Federal officials believe the world’s largest coal miner Peabody Energy may not meet its obligation to provide financial assurance of complete mine cleanup in three states, including Wyoming.
Wyoming struck a deal with bankrupt miner Arch Coal, hoping to secure $17 million in collateral and $75 million in creditor priority on the company’s $485 million reclamation bonding obligation.