Hartshorne sale procedures approved; auction scheduled for June 17

By Caroline Salls

Pittsburgh, March 25 – Hartshorne Holdings, LLC received court approval of the bid procedures for the proposed sale of substantially all of its assets, according to an order filed Wednesday with the U.S. Bankruptcy Court for the Western District of Kentucky.

As previously reported, the sale is a requirement under the company’s debtor-in-possession financing agreement.

Under the approved sale timeline, indications of interest are due from potential bidders by 5 p.m. ET on May 10, and final bids are due by 5 p.m. ET on June 4.

Any stalking horse bid will be selected by 5 p.m. ET on June 9.

An auction will be held on June 17, if necessary. Bids at auction must be made in minimum increments of $250,000.

The sale hearing is scheduled for June 24.

The sale is expected to close by July 19.

Rumsey, Ky.-based Hartshorne develops and operates coal mining projects in the United States. The company filed bankruptcy on Feb. 20 under Chapter 11 case number 20-40133.

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