Coal Mining Company Files Bankruptcy Reorganization Plan

 Coal Mining Company Files Bankruptcy Reorganization Plan

Alpha Natural Resources Inc. filed a proposed Chapter 11 Plan of Reorganization with the U.S. Bankruptcy court for the Eastern District of Virginia.
In addition to the recently-filed motion seeking approval of a marketing process for Alpha’s core operating assets, the filings provide for the sale of Alpha’s assets, detail a path toward resolving all creditor claims, and anticipate the emergence of a reorganized company. The plan will allow for a conclusion of Alpha’s bankruptcy proceedings by June 30, 2016.
Through the reorganization plan, all remaining unsold assets will become part of reorganized Alpha that will be sufficiently funded to meet all of its operating and reclamation activities. Some of Alpha’s coal mines will continue operating throughout the process.
Alpha filed for Chapter 11 bankruptcy in August 2015.   

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