Black Diamond Creditors Head To Trial Over Failed Turnaround

Law360, New York (August 29, 2012, 1:35 PM EDT) -- The trustee representing creditors of bankrupt Black Diamond Mining Co. LLC deserves a jury trial on claims the coal company's founder and restructuring adviser bungled a turnaround effort, a Kentucky federal judge said Tuesday, affirming a previous ruling.

U.S. District Judge Amul R. Thapar denied a request by Harold Sergent and restructuring firm Alvarez & Marsal North America LLC to appeal a March 21 decision permitting a jury trial on claims by Taft A. McKinstry, the trustee for unsecured creditors of Black Diamond. McKinstry alleges the...
To view the full article, register now.