Inmet Mining wins four-month extension of exclusive plan periods

By Sarah Lizee

Olympia, Wash., July 21 – Inmet Mining, LLC secured a four-month extension of its exclusive periods to file and solicit votes on a Chapter 11 plan, according to an order filed Friday with the U.S. Bankruptcy Court for the Eastern District of Kentucky.

The court extended the exclusive plan filing period through Dec. 3 from Aug. 3 and the exclusive solicitation period through Feb. 2, 2024 from Oct. 2.

The company recently named winning bidders for its Kentucky and Pigeon Creek assets. The deadline to close those sales is July 28.

After the sales close, the company intends to file a Chapter 11 plan and disclosure statement.

“The debtor believes that is has made good faith progress toward formulating a viable plan for these Chapter 11 cases but, due to the focus on the value-maximizing sale process and the debtor’s efforts to stabilize post-petition date operations, the debtor needs additional time to work with parties in interest and fully analyze all relevant issues before a plan and disclosure statement can be submitted,” the company said in its motion seeking the extension.

The Knoxville, Tenn.-based coal mining company filed Chapter 11 bankruptcy on April 5 under case number 23-70113.

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