September 27, 2016 4:27 AM ET

Company Overview of Midland Trail Energy LLC

Company Overview

Midland Trail Energy LLC operates as a subsidiary of Patriot Coal Corporation.

12312 Olive Boulevard

St. Louis, MO 63141

United States

Phone:

314-275-3600

Key Executives for Midland Trail Energy LLC

Midland Trail Energy LLC does not have any Key Executives recorded.

Midland Trail Energy LLC Key Developments

Fourth Amended Reorganization Plan and Disclosure Statement Approved for Patriot Coal Corporation

The US Bankruptcy Court approved the fourth amended plan of reorganization and related disclosure statement of Patriot Coal Corp. on October 9, 2015. As per the approved plan, administrative claims of $75, DIP claims of $106 million, professional fee claims, priority tax claims and other priority claims of $5.06 million shall be paid in full in cash. Adequate protection claims will be paid full in cash. Secured tax claims shall be paid in cash, or equal semi-annual cash payments equal to allowed claims together with interest, or regular cash payments. Other secured claims of $132.46 million shall be paid in full in cash or receive collateral securing such claims. Prepetition ABL Facility claims of $44.26 million will get payout event distribution if the payout event occurs or otherwise all drawn LC will get repaid in cash from proceeds of the combined company first lien term loan and each undrawn LC shall be replaced with LC issued under the combined company new ABL. Prepetition LC Facility claims of $192.24 million, Prepetition Term Loan Facility claims of $246.88 million, Prepetition Notes claims of $305.50 million will get payout event distribution if the payout event occurs or otherwise if payout event does not occur, its prepetition facility distribution. General unsecured claims of $83.19 billion will get payout event distribution if payout event occurs or otherwise its general unsecured claims distribution. Intercompany claims of $6.45 billion, intercompany interests and equity interests shall not receive any distribution and will be cancelled under the plan. The plan shall be funded through cash and equivalents and sale of assets. The debtor shall raise new financing through sale of assets of the company.

Notice of Selection of Winning Bidder Filed for Patriot Coal Corporation

Patriot Coal Corporation filed a notice of selection of successful bidder in the US Bankruptcy Court on September 22, 2015. As per the notice filed, an auction was commenced on September 21, 2015 and concluded on September 22, 2015. The debtor selected Blackhawk Mining, LLC as the winning bidder and appointed Coronado Mining, LLC as the backup bidder.

De Minimis Asset Sale Report Filed by Patriot Coal Corporation

Patriot Coal Corporation filed de minimis sale report in the US Bankruptcy Court on September 18, 2015. As per the report, debtor has sold 26510-1996 DMM3 Drill equipment to Anderson Equipment Company for $0.12 million.

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