Patriot Coal gets approval from court to extend exclusivity periods

By Mark Reccek

Bethlehem, Pa., Sept. 1 – Patriot Coal Corp. received court approval to extend its exclusive periods for filing a Chapter 11 plan of reorganization and soliciting votes on the plan, according to an order issued Tuesday with the U.S. Bankruptcy Court for the Eastern District of Virginia.

The company's exclusive filing period was extended through Jan. 7 and its solicitation period extended through March 7, 2016.

As previously reported, the company said an extension will allow it “to continue the progress made to date and to preclude the costly disruption that would occur if competing plans were to be proposed.”

Patriot Coal, a Richmond, Va.-based miner, producer and seller of thermal coal, filed for bankruptcy on May 12. The Chapter 11 case number is 15-32450.

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