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A 'smoking hole in the ground': Blackjewel's coal bankruptcy plan raises concern

Source: Scott Olson/Getty Images News via Getty Images
During a recent wave of bankruptcies in the U.S. coal sector, Blackjewel LLC and its affiliates emerged as a vehicle for some of the least-wanted assets of larger producers looking to lean operations. The company is now trying to close the book on a bankruptcy reorganization that started in July 2019, causing uncertainty for many of its coal mining permits.
A hearing is scheduled Jan. 15 before the U.S. Bankruptcy Court for the Southern District of West Virginia to confirm the Blackjewel reorganization plan, which includes a request to abandon coal permits ....

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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. ....

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