Arch Coal Receives Court Approval of "First Day" Motions to Support Business
"These approvals represent a positive step forward in our financial restructuring process," said
The Court granted Arch interim approval of a
The company also received approval to, among other things, pay employee wages, salaries, benefits and certain other employee obligations, as well as use existing cash management systems. The company also received approval to take certain other actions to help ensure that Arch's mining operations and customer shipments continue in the ordinary course. Arch intends to meet its obligations in the ordinary course and expects its mining operations and customer shipments to continue uninterrupted throughout the reorganization process.
As previously announced, on
Additional information 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). In addition, court filings and other documents related to the reorganization proceedings are available on a separate website administered by Arch's claims and noticing agent, Prime Clerk, at https://cases.primeclerk.com/archcoal.
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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