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Blackjewel's Bankruptcy Filing Is a Harbinger of Trouble Ahead for the Plummeting Coal Industry

Blackjewel’s Bankruptcy Filing Is a Harbinger of Trouble Ahead for the Plummeting Coal Industry The company wants to walk away from almost 200 mining permits in four states, potentially leaving thousands of acres of environmentally damaged land. March 3, 2021 Unemployed Blackjewel coal miner David Pratt holds his daughter Willow as he walks across railroad tracks that lead to one of the company s mines near Cumberland, Kentucky in 2019. Blackjewel miners found themselves unemployed when the company declared bankruptcy and the workers final paychecks bounced, leading them to blockade the tracks to prevent the train carrying the mine s final shipment of coal from leaving until they were paid their wages. Credit: Scott Olson/Getty Images

Blackjewel bankruptcy illustrates problem with zombie mines

Coal firm Blackjewel's exit from bankruptcy delayed, hearing continued into new year

Bankruptcy Proposal Would Dodge Mine Cleanup Laws > Appalachian Voices

By Matt Hepler and Molly Moore UPDATE, Jan. 11, 2020: Following multiple objections to Blackjewel’s proposed Chapter 11 plan, Blackjewel filed an amended plan the morning of the December 17 hearing, striking the use of a reclamation trust. During the hearing, Judge Benjamin Kahn denied former Blackjewel CEO Jeff Hoops’ petition to move the bankruptcy proceeding from a Chapter 11 reorganization plan to a Chapter 7 liquidation plan, but did not rule on the proposed Chapter 11 plan, given the last-minute changes. Blackjewel stated in a Dec. 23 filing that it was seeking to abandon all of its unsold coal permits, though exactly which permits remain unsold and untransferred remains unclear. Judge Kahn will again take up the issues of permit abandonment and the general bankruptcy plan during the January 15 court hearing.

K&W cancels auction plan, looks to continue operating some restaurants

The Winston-Salem restaurant chain disclosed its latest bankruptcy reorganization proposal in a status report filed Friday. While we were hopeful we would find a buyer for K&W Cafeterias, given the current COVID-19 climate, we were not surprised that a buyer did not come forward with an acceptable offer, K&W president Dax Allred told the Winston-Salem Journal on Friday. We are working with our attorney to finalize a reorganization plan to be presented to all parties of interest, where K&W will continue to operate. The company has until Dec. 31 to file its next proposed reorganization plan and until March 1 to gain confirmation of the plan.