Bankrupt Us Coal Company Secures Short-term Funding

CASPER, Wyo. (AP) — A U.S. judge has approved funding to allow a bankrupt coal company to maintain basic operations for a few days. U.S. District Judge Frank Volk in West Virginia approved $2.9 million in debtor-in-possession financing Friday from two lenders to Milton, West Virginia-based Blackjewel LLC. The money in part will allow Blackjewel to pay about 140 employees who remain at work in West Virginia, Wyoming and elsewhere. The Casper Star-Tribune reports the move will give the company a bit more time to find additional financing. Without a longer-term solution, the company may be forced to sell properties, including its closed Eagle Butte and Belle Ayr mines in Wyoming. ___ Information from: Casper (Wyo.) Star-Tribune, http://www.trib.com Read more on NewsOK.com

 

Welcome to Wopular!

Welcome to Wopular

Wopular is an online newspaper rack, giving you a summary view of the top headlines from the top news sites.

Senh Duong (Founder)
Wopular, MWB, RottenTomatoes

Subscribe to Wopular's RSS Fan Wopular on Facebook Follow Wopular on Twitter Follow Wopular on Google Plus

MoviesWithButter : Our Sister Site

More Business News