Murray energy unit enters restructuring support deal with creditors, eyes $47M

摘要

Manila—Murray Energy subsidiary Murray Metallurgical Coal Holdings and five affiliated entities entered a restructuring support agreement with its principal creditors, seeking access to $47 million worth of debtor-in-possession financing. Murray Energy itself filed for Chapter 11 bankruptcy protection in late October 2019 alongside certain other subsidiaries, targeting $350 million in new debtor-in-possession financing. Murray Metallurgical Coal voluntarily filed for Chapter 11 bankruptcy protection with the US Bankruptcy Court for the Southern District of Ohio on February 11 in order to implement the support agreement, the subsidiary said February 12. It plans to use the debtor-in-possession funds for operations and payroll covering employees and suppliers throughout its restructuring.