Arch Coal Disclosure Statement Approved By Court
As previously announced, the Plan incorporates and implements the terms of the global settlement that Arch reached with certain of its senior secured lenders that hold more than 75% of its first lien term loan and the
"With the Court's approval of our Disclosure Statement, a consensual proposed Plan of Reorganization in place and a Plan confirmation hearing scheduled, Arch has established a clear path for emerging from this restructuring process as a strong, well-positioned competitor," said
Arch will begin the process of soliciting votes for the Plan from eligible stakeholders immediately. The Court has set a voting deadline of
Documents related to the reorganization proceedings are available on a website administered by Arch's claims and noticing agent, Prime Clerk, at https://cases.primeclerk.com/archcoal. Additional information about Arch's restructuring is available on Arch's website at www.archcoal.com/restructuring or by calling Arch's Restructuring Hotline, toll-free in the U.S., at 1-844-242-7478. (For calls originating outside the U.S., please dial 1-929-477-8086).
This press release contains "forward-looking statements" – that is, statements related to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance, and often contain words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," or "will." Forward-looking statements by their nature address matters that are, to different degrees, uncertain. For us, particular uncertainties arise from changes in the demand for our coal by the domestic electric generation industry; from legislation and regulations relating to the Clean Air Act and other environmental initiatives; from operational, geological, permit, labor and weather-related factors; from fluctuations in the amount of cash we generate from operations; from potential demands for additional collateral for self-bonding; from future integration of acquired businesses; and from numerous other matters of national, regional and global scale, including those of a political, economic, business, competitive or regulatory nature. These uncertainties may cause our actual future results to be materially different than those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. For a description of some of the risks and uncertainties that may affect our future results, you should see the risk factors described from time to time in the reports we file with the
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Investors: Charles Dayton, Investor Relations, 314/994-2912, Media: Logan Bonacorsi, Arch Coal, 314/994-2766, Michael Freitag / Andrew Siegel / Aaron Palash, Joele Frank, Wilkinson, Brimmer Katcher, 212/355-4449