Energy Journal: Blackjewel hearing drags on, confirmation hearing continued
The infamous bankruptcy case involving coal firm Blackjewel failed to cross the finish line on Friday, after attorneys asked a federal judge for more time to resolve last-minute negotiations over an exit plan.
This isn’t the first time the federal judge overseeing the case has provided the insolvent company more time to formally exit bankruptcy. Negotiations over contested mining permits and outstanding debts not to mention disputes with Blackjewel’s former CEO Jeff Hoops, have caused the proceedings to drag on for nearly 19 months.
“There have been and continue to be productive discussions with a number of parties, including conversations with counsel for the Hoops parties,” Stephen Lerner, attorney for Blackjewel, said during testimony on Friday.
“We’re making good progress,” he added, noting a continuation of the hearing at a later date would “go (a long) way to resolving objections.”
Read more: https://trib.com/business/energy/energy-journal-blackjewel-hearing-drags-on-confirmation-hearing-continued/article_69e804c6-d28b-5d4d-be79-4514d1c05e6a.html
