Peabody Energy seeks exclusivity extension, expects to file plan soon

By Caroline Salls

Pittsburgh, Dec. 1 – Peabody Energy Corp. requested a second extension of its exclusive periods for filing and soliciting votes on a Chapter 11 plan, according to a motion filed Wednesday with the U.S. Bankruptcy Court for the Eastern District of Missouri.

Peabody asked the court to extend its exclusive plan-filing period through Feb. 17 from Dec. 14 and the solicitation period through March 17 from Feb. 15.

The company said it requested the proposed extension “in recognition of the complex issues still facing the debtors.

Peabody said it is in negotiations with first-lien and second-lien lenders, noteholders and the official committee of unsecured creditors appointed in its case.

Although it intends to file a plan by Dec. 14, the company said it requested the extension “in an abundance of caution and in case unanticipated delays arise.”

A hearing is scheduled for Dec. 14.

Peabody, a St. Louis-based coal producer, filed bankruptcy on April 13, 2016. The Chapter 11 case number is 16-42529.

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