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ChuckD-MSB

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ChuckD-MSB

Re: SATELLITE post# 68806

Friday, 11/12/2010 11:46:35 PM

Friday, November 12, 2010 11:46:35 PM

Post# of 83044
I believe you are correct on the original contract amount (10 mm)

I have been told,but not yet verified that Massey wrote off the loan a while back.

I think they are on the list of unsecured creditors and will be treated as such.

I believe that they still need magnetite (hence their willingness to enter into another contract post-petition)

How magnetite is used in the coal business is explained here
http://en.wikipedia.org/wiki/Coal_preparation_plant
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