Coal producer Walter Energy, Inc. is headed to a January bankruptcy auction with an offer from senior lenders to cancel or take on $1.25 billion of the company's debts to set a floor price for the competition.
CHICAGO (Reuters) - Walter Energy Inc defeated an attempt by union workers to salvage job contracts and keep retiree benefits after a judge upheld a lower court ruling allowing the bankrupt coal producer to reject labor agreements.
Earlier this year, the company acquired the Gauley Eagle and Maple mines in West Virginia and the Walter Coke and Taft coal operations in Alabama from Walter Energy, Walter Canada's former parent company for a dollar, assuming liabilities for that ...
Walter Energy, Inc. (OTCMKTS:WLTGQ) is a chapter 11 play in the met coal segment that has started to garner a lot of attention as new policy changes suggest an extremely unlikely rejuvenation of coal-based industry in 2017.
In the weeks since Conuma Coal Resources Ltd. bought Walter Energy Canada Holding Inc.'s northeast B.C. mines out of bankruptcy in September, the fledgling miner has reopened one mine and shipped its first trainload of coal.