Peabody Energy requests precautionary third extension of plan periods

By Caroline Salls

Pittsburgh, Feb. 2 – Peabody Energy Corp. requested a third extension of its exclusive periods for filing and soliciting votes on a plan of reorganization, according to a motion filed Wednesday with the U.S. Bankruptcy Court for the Eastern District of Missouri.

Peabody wants to extend its exclusive filing period through May 1, the same day as the company’s exit facility commitment, and the solicitation period through June 30.

The exclusive periods are scheduled to expire on Feb. 15 and March 17, respectively.

As previously reported, the company’s disclosure statement was approved on Jan. 26, and the plan confirmation hearing is scheduled for March 16.

“Against [a backdrop] of significant achievements, and out of an abundance of caution and prudence since the exclusive filing period will expire before the scheduled confirmation hearing on the solicitation plan, the debtors request an order further extending the exclusive periods,” the motion said.

A hearing is scheduled for Feb. 15.

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

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