17
Mar
17:37
Judge approves Peabody reorganisation plan
US metallurgical coal producer Peabody Energy is a step closer to emerging from Chapter 11 bankruptcy protection, Kallanish reports.
A US Bankruptcy Court judge has approved Peabody’s reorganisation plan, which was also approved by 93% of the company’s creditors.
The plan takes into account debt reduction of about $5 billion in the past year. Peabody entered Chapter 11 with nearly $8 billion in debt last April.
"Peabody has accomplished th…
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Truly global, user-friendly coverage of the steel and related markets and industry that delivers the essential information quickly while delivering on most occasions just the right amount of between-the-lines comment and interpretation for a near real time news service of this kind.
Anonymous
Very good overview of the weekly steel market.
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