Coal Giant Clearwater Files For Ch. 11

Law360, New York (January 7, 2009, 12:00 AM EST) -- Facing a tough economy and rising costs, Clearwater Natural Resources LLC, a leader of U.S. coal-mining operations in central Appalachia, has jumped into bankruptcy along with two affiliates.

On Wednesday, Clearwater filed for bankruptcy in the U.S. Bankruptcy Court for the Eastern District of Kentucky, listing assets of more than $100 million and debts of less than $100 million on its Chapter 11 petition.

The mining giant cited financial problems at its wholly owned subsidiary Miller Bros. as a major reason for the filing, with the...
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