Bankrupt Blackhawk Gets $35 Million More, Vote on Amended Plan

Blackhawk Mining LLC won interim court approval to borrow $35 million more in bankruptcy financing, a move that shores up a budget shortfall but changes creditors’ equity structure.

Approval by Judge Laurie S. Silverstein of the U.S. Bankruptcy Court for the District of Delaware Oct. 7 gives the coal mine operator immediate access to $25 million of the debtor-in-possession loan, and the rest when the court gives final approval later this month.

Silverstein also said she will approve procedures for creditors to vote on the amended reorganization plan. Eligible creditors must vote by Oct. 18, and Silverstein will consider approving ...