Alpha Appalachia CDS settlement auction scheduled for Sept. 17

By Tali Rackner

Norfolk, Va., Sept. 11 – A Sept. 17 auction will be held to settle Alpha Appalachia Holdings, Inc. credit derivative trades, according to a notice.

As previously reported, the International Swaps and Derivatives Association, Inc. announced on Aug. 4 that its Americas Credit Derivatives Determinations Committee resolved that a bankruptcy credit event occurred in respect of the company.

Formerly Massey Energy Co., the Richmond, Va.-based company produces, processes and sells steam and metallurgical-grade bituminous coal in West Virginia, Kentucky and Virginia. It also produces, gathers and markets natural gas in the Appalachian Basin.

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