15
Apr
16:05
Peabody receives debtor-in-possession approval
Thermal and metallurgical coal supplier Peabody Energy has received a preliminary go-ahead from a Missouri bankruptcy court to continue operations as a debtor-in-possession, Kallanish understands from a company statement.
Peabody, which declared chapter 11 bankruptcy earlier in the week, now has access to $800 million in debtor-in-possession financing. The financing will allow Peabody to continue to operate its US facilities while its restructuring takes place.
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Anonymous
Very good overview of the weekly steel market.
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