Oil, Gas and Consumable Fuels
Company Overview of Xinergy Ltd.
Xinergy Ltd., through its subsidiaries, is engaged in thermal and metallurgical coal mining activities in the Central Appalachian regions of West Virginia and Virginia. The company leases or owns the mineral rights to approximately 73,000 acres in West Virginia, which includes Raven Crest, a leased 12,000 acre thermal surface mining operations area; Brier Creek mine, a leased 13,000 acre thermal underground mining operation; South Fork, a 35,800 acre leased metallurgical mining operations area; and Sewell Mountain, with approximately 12,500 acres of mineral ownership. It also holds interests in True Energy metallurgical surface mining operation that covers approximately 1,000 acres in Wise C...
8351 East Walker Springs Lane
Knoxville, TN 37923
Key Executives for Xinergy Ltd.
Chief Executive Officer, President and Director
Compensation as of Fiscal Year 2017.
Xinergy Ltd. Key Developments
Xinergy Ltd. Deleted From Other OTC
Feb 17 16
Xinergy Ltd. ordinary shares (Canada) deleted from Other OTC, effective February 17, 2016. The deletion was due to bankruptcy plan effective/shares cancelled.
Motion for Asset Sale Approved for Xinergy Ltd.
Jan 29 16
The US Bankruptcy Court gave an order approving the sale of substantially all the assets of True Energy, LLC on January 29, 2016. The debtor has been authorized to sell substantially all the assets of its affiliate to A & G Coal Corporation for a purchase price of $0.13 million in cash. The debtor did not receive any other competing bids for the purchase of its assets and therefore A & G Coal Corporation emerged as the winning bidder.
First Amended Reorganization Plan Approved for Xinergy Ltd.
Jan 27 16
The US Bankruptcy Court approved the amended plan of reorganization of Xinergy Ltd. on January 27, 2016. The debtor filed its first amended plan in the Court on October 14, 2015. As per the amended plan, administrative claims, statutory fees, professional claims of $0.5 million, priority tax claims and DIP facility claims of $45 million shall be paid in full in cash. Other secured claims of $0.04 million shall be paid in full in cash and senior secured note claims of $65.5 million shall receive a pro rata share of the debtor’s new common stock. General Unsecured Claims including senior note deficiency claims of $141.6 million will receive a lesser of $0.2 million or 4% of the allowed amount. Intercompany claims and interests of $280.39 million shall be reinstated. All the interests in Xinergy Ltd. shall be cancelled and shall receive no distribution under the plan. The debtor does not have any Section 510(b) claims. The plan shall be funded from debtor’s cash and cash equivalents of $8.17 million and issue of new common stock. The exit facility may have a maximum principal amount of $10 million.
Similar Private Companies By Industry
Recent Private Companies Transactions
|No transactions available in the past 12 months.|
The information and data displayed in this profile are created and managed by S&P Global Market Intelligence, a division of S&P Global. Bloomberg.com does not create or control the content. For inquiries, please contact S&P Global Market Intelligence directly by clicking
Most Searched Private Companies
Sponsored Financial Commentaries