Coal

Walter Energy Sells Coal Assets in W. Virginia & Alabama

11-21 Weekly Coal Production Report

Several affiliates of ERP Compliant Fuels LLC and Virginia Conservation Legacy Fund Inc. (VCLF) closed on the purchase of coal assets from Walter Energy Inc.

Under terms of the agreement, Seminole acquired Walter Energy’s assets in West Virginia, including the Gauley Eagle and Maple properties, as well as the Walter Coke facility and Taft in Alabama. Walter’s remaining assets are its core Alabama coal operations. The Bankruptcy Court for the Northern District of Alabama approved the sales, and the deal is expected to close in the near future.

Walter Energy and its U.S. subsidiaries filed Chapter 11 bankruptcy on July 15, 2015.  PJT Partners is serving as financial advisor and Paul, Weiss, Rifkind, Wharton & Garrison LLP and Bradley Arant Boult Cummings LLP are serving as legal advisors to Walter Energy.