James River Hopes To Exit Chap. 11; Directors Face Suit

摘要

Attorneys for James River Coal Co. (JRC) recently proposed a plan of reorganization to the US Bankruptcy Court for the Middle District of Tennessee, and associated parties are currently reviewing the document. Meanwhile, creditors will pursue claims against some company officials. JRC and 21 subsidiaries filed for bankruptcy in Tennessee in March 2003 (CD 3/27/03). At the time, newly hired president and CEO Peter Socha told Argus COAL Daily "our problems are very, very fixable." He said the company simply needed a chance to sort out its finances (CD 3/31/03).