Murray Energy Sale Dependent on ‘Substantial’ Cash Raise

A proposed sale of coal giant Murray Energy Corp. hinges on its ability to raise “substantial” cash to operate after exiting bankruptcy, court papers show.

• Failure to raise sufficient funding would put its deal to hand ownership to a group of lenders at risk, according to a new bankruptcy plan outline filed by Murray with the court
  • “The plan is a significant achievement in the current coal marketplace, but the plan must be financed,” per court papers
• Murray is in ongoing discussions with its proposed buyer regarding exactly how much money needs to be raised to fund operations outside of ...