It’s not the best solution to resolving a Chapter 11 case but it’s the best under bad circumstances, the designated asset purchaser of Paringa Resources subsidiary Hartshorne Holdings indicated in court briefings this week. Tribeca Global Natural Resources Ltd and Hartshorne fielded objections from several parties on the proposed asset purchase agreement for a bankrupt company with no current production and several coal supply agreements up in the air. Tribeca said it could get the western Kentucky coal required under the contracts through two established global commodities brokers, Javelin Global Commodities Ltd and AMCI.
展开▼
