FM Coal exclusive solicitation period extended through April 27

By Sarah Lizee

Olympia, Wash., Feb. 23 – FM Coal, LLC’s exclusive period to solicit votes on a Chapter 11 plan was extended through April 27 from Feb. 22, according to an order filed Tuesday with the U.S. Bankruptcy Court for the Northern District of Alabama.

The company said that while it is confident that its plan will be confirmed, it continues to negotiate with key creditor constituencies in an attempt to resolve outstanding issues related to the plan and smooth the path to a consensual confirmation.

“Without the requested extension, the debtors could face competing plans, which would only lead to value-destructive litigation rather than the consensus that the debtors endeavor to obtain,” FM Coal said in the motion.

Graysville, Ala.-based FM Coal provides coal mining and energy production services. The company filed Chapter 11 bankruptcy on Sept. 1 under case number 20-02783.

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