Blackhawk Seeks $35M Boost For Confirmed Del. Ch. 11 Plan

Law360 (October 3, 2019, 7:28 PM EDT) -- Citing revenue shortfalls, weakened coal markets and a longer-than-expected bankruptcy stay, Blackhawk Mining LLC sought an extra $35 million in post-petition borrowing Wednesday for its already confirmed Delaware Chapter 11.

Kevin Nystrom, an AlixPartners LLP managing director and chief restructuring officer to Blackhawk, said in a supporting declaration that market “headwinds” and extended regulatory approval times necessitated the increase in the Kentucky-based venture's original $240 million debtor in possession loan.

“The debtors have made progress in reducing operating cash expenditures but not enough to offset the combination of the shortfall in operating cash receipts and increased cost of the restructuring process,” Nystrom...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS