Murray Metallurgical granted court OK of Maple Eagle asset sale

By Caroline Salls

Pittsburgh, April 2 – Murray Metallurgical Coal Holdings, LLC obtained court approval to sell its Maple Eagle mining complex assets to Panther Creek Mining LLC, according to an order filed Wednesday with the U.S. Bankruptcy Court for the Southern District of Ohio.

As previously reported, Murray Metallurgical, its take-back lenders, Murray Energy and shareholder entity Javelin Global Commodities (UK) Ltd. entered into a restructuring support agreement, under which Murray Metallurgical sought approval for a sale of the Maple Eagle mining complex assets.

Panther Creek will pay $750,000 in cash for the Maple Eagle assets and assume $30 million of related liabilities.

The company said last month that it received no qualified competing bids.

Murray Metallurgical is based in St. Clairsville, Ohio. The company filed bankruptcy on Feb. 11 under Chapter 11 case number 20-10390.

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