Cloud Peak Gets Court Nod to Collect Votes on Bankruptcy Plan

Judge Kevin Gross says at a hearing in Delaware Tuesday he’ll conditionally approve an outline of the coal producer’s bankruptcy plan and allow it begin soliciting votes from stakeholders.

• Cloud Peak stakeholders “continue to press forward” on closing the sale of three coal mines to Navajo Transitional Energy Co., Paul Heath of Vinson & Elkins LLP says in hearing
  • Gross approved the sale earlier this month
• A combined hearing for final approval of Cloud Peak’s disclosure statement and confirmation of bankruptcy plan is set for Dec. 5
• PREVIOUSLY: Cloud Peak Set to End Bankruptcy After Auction for Coal Assets ...