Peabody Energy Corporation (BTU)

[LouisDesyjr]

Docket #1820 proposed plan

Court Docket: #1820 Date Filed: 12/22/2016
Joint Plan of Reorganization of Debtors and Debtors in Possession:
http://www.kccllc.net/peabody/document/1642529161222000000000022

Peabody Energy Completes Key Milestone Toward Emergence From Chapter 11; Files Plan Of Reorganization And Disclosure Statement
http://www.peabodyenergy.com/content/120/press-releases

The big item is that the common shares are going to be canceled. While this is a proposed plan, it looks like a number of classes that are higher in priority are not being made whole, so even with changes, the common stock will probably still be canceled.

1: The existing common shares are cancelled.

As part of the plan of reorganization, the company anticipates emerging as a public company. As frequently occurs in Chapter 11 processes, the plan provides that current Peabody Energy equity securities will be cancelled and extinguished upon the effective date of a confirmed plan of reorganization by the bankruptcy court, and holders would not receive any value for such equity interests.

Louis J. Desy Jr.