Blackhawk Seeks $35 Million More in Amended Bankruptcy Plan

Blackhawk Mining LLC is asking a Delaware judge to approve amending its reorganization plan to get $35 million more in bankruptcy financing and give the lenders an equity stake.

The Kentucky-based coal mining company said it needs the additional amount—on top of $240 million debtor-in-possession financing already approved—for continued funding of operations after the bankruptcy emergence date was delayed to Nov. 15. The delay was due to a coal price drop, “limited coal spot market activity,” and more time needed for regulatory approvals, according to court filings.

Under the amended plan, some DIP lenders will get 21.5% of the post-bankruptcy ...