Black Diamond takes significant steps to emerge from Chapter 11

摘要

Black Diamond Mining Co., LLC and its affiliates have filed a restructuring plan and disclosure statement with the U.S. Bankruptcy Court for the Eastern District of Kentucky outlining how Black Diamond proposes to emerge from Chapter 11. The Prestonsburg, KY-based coal producer's plan has the support of the company's senior lenders, its accounts receivable lender and several entities affiliated with the estate of Ross Harris that are Black Diamond's largest mineral rights lessors. Additionally, the company's previously filed motion to convert the Black Diamond case from a Chapter 11 restructuring to a Chapter 7 liquidation was withdrawn.