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marayatano

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marayatano

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Monday, 07/29/2013 6:00:06 PM

Monday, July 29, 2013 6:00:06 PM

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Patriot Coal Can Pay Hedge Funds $2M In Rights Offering Deal
Law360, New York (July 29, 2013, 4:53 PM ET) -- A Missouri bankruptcy judge on Friday signed off on a request by Patriot Coal Corp. to pay up to $2 million to two hedge fund bondholders, fees that would allow the funds to backstop a possible rights offering as the parties hash out a reorganization plan.

The bankrupt company said it needed to pay for fees and expenses to continue talks with Aurelius Capital Management LP and Knighthead Capital Management LLC over a Chapter 11 plan that would provide hundreds of millions of dollars in financing...



www.law360.com/articles/460819/patriot-coal-can-pay-hedge-funds-2m-in-rights-offering-deal

I do not have a subscription, so the above is the only part of the article I was able to cut and paste.

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