Cases & Deals

Alpha Natural Resources files for bankruptcy with $10.1 billion in assets and over $7 billion in liabilities

Clients Alpha Natural Resources

Jones Day represented Alpha Natural Resources, the second-biggest coal company in the U.S. in its chapter 11 bankruptcy case which was filed in Richmond, Virginia with assets of $10.1 billion and liabilities of $7.1 billion. We resolved a $100 million error in the disclosure statement projections that was discovered post-emergence and was resolved by a complex settlement negotiated with Contura Energy (the credit bid buyer of certain assets) and Citibank as first lien agent, as well as a separate (but related settlement) with the West Virginia Department of Environmental Protection.