Allegiance Coal USA Files for Chapter 11 Bankruptcy in Delaware

Allegiance Coal USA Ltd. filed for Chapter 11 protection on Tuesday, court papers show.

• Company listed assets of as much as $100 million and liabilities of as much as $50 million in its bankruptcy petition
• Entity is 100% owned by Allegiance Coal Ltd., a publicly traded coal company based in Australia, court papers show
  • The company didn’t immediately respond to an email seeking comment
• Affiliates including New Elk Coal Holdings and Black Warrior Minerals are also seeking bankruptcy protection, per court papers
• The case is Allegiance Coal USA Limited, 23-10234, U.S. Bankruptcy Court for the District of Delaware. ...