December 08, 2016 2:58 AM ET

Oil, Gas and Consumable Fuels

Company Overview of Birmingham Coal & Coke Company, Inc.

Company Overview

Birmingham Coal & Coke Company, Inc. owns and operates coal mines and produces and markets coal to industrial, utility and export markets. It owns and operates three coal mines with an average annual coal production of approximately 480,000 tons. The company also offers coal brokerage services. Birmingham Coal & Coke Company, Inc. was founded in 2000 and is based in Birmingham, Alabama. As of May 9, 2011, Birmingham Coal & Coke Company, Inc. operates as a subsidiary of CanAm Coal Corp. On May 27, 2015, Birmingham Coal & Coke Company, Inc. along with its affiliates, filed a voluntary petition for reorganization under Chapter 11 in the U.S. Bankruptcy Court for the Northern District of Alabam...

2477 Valleydale Road

Birmingham, AL 35244-2087

United States

Founded in 2000

Phone:

205-982-8971

Fax:

205-982-8973

Key Executives for Birmingham Coal & Coke Company, Inc.

Compensation as of Fiscal Year 2016.

Birmingham Coal & Coke Company, Inc. Key Developments

Motion for Asset Sale Approved for Birmingham Coal & Coke Company, Inc.

The US Bankruptcy Court gave an order approving the sale of substantially all the assets of Birmingham Coal & Coke Company, Inc. on May 31, 2016. The debtor has been authorized to sell Gooden Creek 2 Mine and related assets to Cedar Lake Mining, Inc. for a purchase price of $0.2 million. Also it has been authorized to sell Posey Mill 2 Mine and relates assets to Yellowhammer Energy Services, LLC for a purchase price of $0.06 million.

Bidding Procedure Approved for Birmingham Coal & Coke Company, Inc.

The US Bankruptcy Court gave an order approving the bidding procedures relating to the sale of substantially all the assets of Birmingham Coal & Coke Company, Inc. on April 15, 2016. The Court approved the sale of substantially all its assets by way of an auction process. To qualify as a qualified bidder, interested parties should submit their bids by April 28, 2016 accompanied by the amount of at least 10% of the purchase price of the purchase price. The initial minimum overbid should be in the amount of $0.03 million more than the initial purchase price. If the debtor receives any qualified bids then it would hold an auction for its assets on May 2, 2016. The sale hearing is scheduled for May 2, 2016.

Motion for Asset Sale Filed by Birmingham Coal & Coke Company, Inc.

Birmingham Coal & Coke Company, Inc. filed a motion in the US Bankruptcy Court seeking approval for the sale of substantially all its assets on March 30, 2016. As per the motion, debtor seeks to sell substantially all its assets to the successful bidder. To qualify as a qualified bidder, interested parties should submit their bids by April 25, 2016. Each qualified bid should accompany with a good-faith deposit of 10% of the purchase price proposed by the qualified bidder. Regions Bank shall be entitled to credit bid all or portion of the outstanding obligations and shall be considered as qualified bidder. The debtor has scheduled an auction on April 28, 2016. In the auction, minimum qualified bid should be at least $0.03 million more than the baseline bid. Successive bids shall be made in increments to be determined by debtor in the auction. Deadline to object to the sale can be filed by April 28, 2016. The sale hearing is scheduled for May 2, 2016.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
May 31, 2016
Birmingham Coal & Coke Company, Inc., Gooden Creek 2 Mine
Merger/Acquisition
May 31, 2016
Birmingham Coal & Coke Company, Inc., Posey Mill 2 Mine
 

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