Blackhawk Mining Gets OK For $240M Ch. 11 Financing
Law360, Wilmington (August 13, 2019, 7:38 PM EDT) -- A Delaware bankruptcy judge on Tuesday gave final approval to coal miner Blackhawk Mining LLC’s $240 million in post-petition financing in its Ch. 11 after some concerns raised by a group of Blackhawk's landlords about liens they called into question were resolved.
At a hearing in Wilmington, U.S. Bankruptcy Judge Laurie Selber Silverstein signed off on the two-tiered debtor-in-possession package, which includes a $150 million post-petition term loan that infuses $50 million of new money into the Blackhawk estate while rolling up on a creeping basis $100 million in existing term loans.
The DIP also includes a $90 million asset-based revolving...
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