James River Coal Stalking Horse Bidder Notice Filed


James River Coal filed with the U.S. Bankruptcy Court a notice of selection of a stalking horse bidder and supplemental auction procedures. The notice states, “Pursuant to the Strategic Transaction Bidding Procedures, the Debtors, in consultation with the DIP Agent and the UCC, have selected JR Acquisition, LLC, a wholly owned subsidiary of Blackhawk Mining LLC, as a Stalking Horse Bidder for the purchase of the Debtors’ mining complexes commonly referred to as the Hampden Complex (including the assets of Debtor Logan & Kanawha Coal Company, LLC), the Hazard Complex (other than the assets of Debtor Laurel Mountain Resources LLC) and the Triad Complex for an aggregate purchase price of $50,000,000 plus the assumption of certain liabilities….The Debtors have determined, in their reasonable judgment and in consultation with the DIP Agent and the UCC, to conduct an Auction on August 18, 2014 at 10:00 am.”

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