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Peabody Energy Stipulation Filed

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Peabody Energy filed with the U.S. Bankruptcy Court a stipulation and order regarding the treatment of claims of certain former executives.

The stipulation notes, “It is hereby stipulated and agreed by and among the Parties through their undersigned counsel, and the Court ORDERS, as follows: The $255,546.04 Claim of Arshad Sayed against Peabody Energy Corporation (Claim No. 6257) shall be disallowed or otherwise expunged in its entirety….The $254,845.77 Claim of Fredrick D. Palmer (Claim No. 4117, as amended) shall be reduced by the least amount necessary to qualify as, and said reduced Claim shall be rendered and deemed allowed as, a Class 6B Convenience Claim.”

In addition, “The $176,920 Claim of Christopher J. Hagedorn (Claim No. 752, as amended) shall be deemed an allowed Class 6B Convenience Claim, $13,200 of which shall be paid as a priority claim, leaving a net Class 6B Convenience Claim of $163,720, the ‘Net Convenience Claim.’ The $250,177,795.87 Claim of Mr. Hagedorn (Claim No. 6907, as amended) shall be disallowed or otherwise expunged in its entirety. The $313,189,441.16 Claim of Gregory H. Boyce (Claim No. 6905, as amended) shall be disallowed or otherwise expunged in its entirety. After giving effect to the terms of the foregoing paragraph, the remaining Claims of Mr. Boyce (Claim Nos. 360, 5509, 5418 and 6886) shall be consolidated, rendered and deemed allowed as a single Class 5B General Unsecured Claim in an aggregate amount of $5,432,221.”

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