Bankruptcy Trustee Can Sell Mining Rights: 10th Circ.

Law360, New York (April 20, 2011, 6:04 PM EDT) -- The Tenth Circuit on Tuesday said that a bankruptcy trustee could sell the rights to a Utah coal mine for $9.6 million, finding that the mine's leaseholder hadn't properly canceled the rights before the mining company was forced into bankruptcy.

C.W. Mining Co.'s bankruptcy trustee did not err when he assumed and sold the mining rights agreement during the company's bankruptcy proceedings because C.O.P. Coal Development Co., the owner of the mine's lease, hadn't taken the proper steps to end its agreement with C.W. before the...
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