Lighthouse Resources sets bidding procedures for Millennium assets

By Sarah Lizee

Olympia, Wash., Dec. 10 – Lighthouse Resources Inc. is seeking court approval of the bidding procedures for the sale of its Millennium assets, according to a motion filed Wednesday in the U.S. Bankruptcy Court for the District of Delaware.

The Millennium assets include a ground lease and aquatic lease in Longview, Wash., as well as other real property, buildings, structures and assets.

The company is also seeking approval to select one or more parties to act as stalking horse bidder.

Bids would be due by 5 p.m. ET on Dec. 30.

Competing bids must be equal to or greater than the sum of the stalking horse purchase price, the stalking horse bid protections and $100,000.

An auction will be held on Jan. 4, if needed.

A sale hearing would be held on Jan. 5.

A hearing on approval of the bidding procedures is scheduled for Dec. 22.

Lighthouse Resources is a South Jordan, Utah, owner and operator of thermal coal mines. The company filed bankruptcy on Dec. 3 under Chapter 11 case number 20-13056.

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