Tag: bankruptcy

Environmental Groups Applaud Decision to Replace Self-Bonding With Stronger Protections in Arch Coal Bankruptcy Reorganization

Arch Coal and its subsidiaries received approval from the U.S. Bankruptcy Court for the Eastern District of Missouri today for its reorganization plan that will require the company to replace all of its existing self-bonds with more reliable financial instruments to assure funding for required future environmental reclamation. Arch Coal filed for bankruptcy protection in January 2016, and today’s reorganization under Chapter 11 of the Bankruptcy Code is expected to become effective sometime later this month. The approved reorganization plan also leaves in place Arch Coal’s additional environmental obligations at its coal mines across the country.