July 23, 2016 6:58 AM ET

Company Overview of Straight Creek Coal Mining, Inc.

Company Overview

Straight Creek Coal Mining, Inc. is based in the United States. Straight Creek Coal Mining, Inc. operates as a subsidiary of JW Resources, Inc.

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United States

Founded in 2012

Key Executives for Straight Creek Coal Mining, Inc.

Straight Creek Coal Mining, Inc. does not have any Key Executives recorded.

Straight Creek Coal Mining, Inc. Key Developments

Motion for Asset Sale Approved for JW Resources, Inc.

The US Bankruptcy Court gave an order approving the sale of substantially all its assets except mobile equipment of JW Resources, Inc. on October 15, 2015. The debtor has been authorized to sell its substantially all its assets to Revelation Energy, LLC, the stalking horse bidder for a purchase price comprising of assumption of all liabilities. The debtor’s assets include real property and improvements, executory contracts and certain governmental licenses.

First Amended Asset Purchase Agreement for Motion for Asset Sale Filed by JW Resources, Inc.

JW Resources, Inc. filed first amended asset purchase agreement in the US Bankruptcy Court for the sale of substantially all its assets except mobile equipment on October 14, 2015. The debtor seeks the Court’s approval for the asset purchase agreement for sale of substantially all its assets except mobile equipment to Revelation Energy, LLC, the stalking horse bidder and the purchase price comprises of assumption of all liabilities pursuant to the asset purchase agreement dated October 7, 2015. The stalking horse bidder would be entitled to a break-up fee of $0.3 million in case of termination of the equipment purchase agreement. The sale shall be consummated on or before October 15, 2015. There are no other changes in the terms of sale.

Bidding Procedure Approved for JW Resources, Inc.

The US Bankruptcy Court gave an order approving the amended bidding procedures relating to the substantially all assets except mobile equipment of JW Resources, Inc. on September 1, 2015. The Court approved rescheduling of certain dates regarding the sale. To qualify as a qualified bidder, interested parties should submit their bids by September 16, 2015. If the debtor receives any qualified bids then it would hold an auction for its assets on September 18, 2015. The sale hearing is scheduled for October 7, 2015.

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Recent Private Companies Transactions

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