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Cloud Peak Energy Stretches Out Ch. 11 Sale Schedule

Law360 (June 12, 2019, 10:07 PM EDT) -- Bankrupt coal mining venture Cloud Peak Energy Inc. secured Delaware bankruptcy court approval Wednesday for revised bid procedures, pushing key dates out two weeks or more and allowing more time for efforts to market the Wyoming-based business.

The new plan approved by U.S. Bankruptcy Judge Kevin Gross would set a July 8 bid deadline instead of June 21, and would convene an auction if needed on July 11, rather than June 26, with a sale hearing potentially occurring on July 18.

“I think the extra time is helpful,” Judge Gross said. “Despite the fact that there was extensive pre-petition marketing, more...

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May 10, 2019

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