Patriot Coal Corporation (fka PCXCQ)

[marayatano]

Patriot delays reorganization plan


Staff St. Louis Business Journal

Patriot Coal Corp., the bankrupt coal producer, won't move forward on its reorganization plan this week, but instead will delay its plan until Oct. 2.

The company filed a bare-bones plan on Sept. 6, saying at the time that it anticipated submitting disclosure materials this week for its proposal, the St. Louis Post-Dispatch reports. However, the filing of those materials has been pushed back to October.

The plan filed last week said only that creditors will be paid with new stock and debt, with the details on the proposal left blank.

Patriot filed for Chapter 11 bankruptcy in July 2012, listing assets of $3.57 billion and debt of $3.07 billion as of May 2012.

http://www.bizjournals.com/stlouis/morning_call/2013/09/patriot-delays-reorganization-plan.html