Bloomberg Law
Nov. 30, 2020, 3:01 PM

Blackjewel’s Ex-CEO Pushes For Chapter 7 Bankruptcy Conversion

Alex Wolf
Alex Wolf

Blackjewel LLC’s former CEO Jeffery Hoops, under investigation for mismanaging the defunct coal production company, asked to convert the company’s Chapter 11 bankruptcy to a Chapter 7 liquidation.

The U.S. Bankruptcy Court for the Southern District of West Virginia should put Blackjewel’s estate into the hands of a court-appointed liquidator because the company doesn’t have enough money to cover its legal bills and isn’t being rehabilitated, Hoops said in a Nov. 25 court filing.

Hoops, who’s long been alleged of mismanaging the company for his own benefit, was removed as CEO last year as a condition for Blackjewel to obtain ...

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