Oil, Gas and Consumable Fuels
Company Overview of James River Coal Co.
On March 22, 2016, James River Coal Co. went out of business as per its Chapter 11 liquidation filing under bankruptcy. James River Coal Company, through its subsidiaries, engages in mining and selling metallurgical and industrial coal in eastern Kentucky, southern West Virginia, and southern Indiana. James River Coal Company conducts its mining operations primarily in Central Appalachia and the Midwest. The company was founded in 1988 and is based in Richmond, Virginia.
901 East Byrd Street
Richmond, VA 23219
Founded in 1988
Key Executives for James River Coal Co.
James River Coal Co. does not have any Key Executives recorded.
James River Coal Co. Key Developments
James River Coal Deleted From Other OTC
Mar 23 16
James River Coal Company new common stock deleted from Other OTC, effective March 23, 2016. The deletion was due to bankruptcy plan effective/shares cancelled.
Second Amended Liquidation Plan Approved for James River Coal Co.
Mar 20 16
The US Bankruptcy Court approved the second amended plan of liquidation of James River Coal Co. on March 20, 2016. The debtor filed its second amended plan in the Court on March 8, 2016. As per the amended plan, administrative claims, all fees and charges under 28 U.S.C., priority tax claims, other priority claims of $0.5 million, and professional fee claims shall be paid in full in cash. Secured claims of $0.5 million shall receive a recovery of 100% of its allowed amount. 7.875% Senior Notes Parent Claim/7.875% Senior Notes Guarantee Claims of $140.13 million will be paid $10.68 million in cash, a recovery of 3.8%. 10.00% Convertible Senior Notes Parent Claim/ 10.00% Convertible Senior Notes Guarantee Claim of $140.13 million will be paid $2.45 million in cash, a recovery of 1.75%. General Unsecured Claims- Debtor Group 1 of $17.63 million will be paid $0.18 million in cash, a recovery of 1%. General Unsecured Claims- Debtor Group 2 of $105.61 million will be paid $0.53 million in cash, a recovery of 0.5%. PBGC Parent Claims and PBGC Subsidiary Claims of $55.6 million will be paid $2.11 million in cash, a recovery of 3.8%. Subordinated claims shall be eliminated and shall receive no distribution under the plan. All the intercompany claims shall be cancelled and shall receive no distribution under the plan. Interests in James River shall be cancelled and shall receive no distribution under the plan; while the interests in subsidiary debtors shall be reinstated under the plan. The plan shall be funded from debtor’s cash in hand and sale of assets.
Second Amended Liquidation Plan Filed by James River Coal Co.
Mar 8 16
James River Coal Co. filed a second amended plan of liquidation in the US Bankruptcy Court on March 8, 2016. As per the plan filed, no changes were made in the treatment of claims.
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