Blackjewel wins exclusivity extension; liquidating plan coming soon

By Caroline Salls

Pittsburgh, Aug. 3 – Blackjewel, LLC was granted an extension of its exclusive periods to file and solicit votes on a Chapter 11 plan, according to an order filed with the U.S. Bankruptcy Court for the Southern District of West Virginia.

Specifically, the company’s exclusive plan-filing period was extended by 60 days through Sept. 25 and the solicitation period by 58 days through Dec. 23.

According to the motion filed July 25, the Blackjewel debtors requested the extension “so that they may continue to diligently pursue a value-maximizing resolution to these Chapter 11 cases and build upon the substantial progress made to date without distraction from other competing Chapter 11 plans.”

Following the resolution of several outstanding issues with the official committee of unsecured creditors appointed in its case, the company believes it will be in position to file a Chapter 11 liquidating plan and disclosure statement “in the immediate future.”

Blackjewel is a Milton, W.Va.-based coal producer. The company filed bankruptcy on July 1, 2019 under Chapter 11 case number 19-30289.

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