gmail.com
(www.cnbc.com/2016/11/23/reuters-america-peabody-de ...
CHICAGO, Nov 23 (Reuters) - U.S. coal producer Peabody Energy Corp said on Wednesday it is closer to exiting bankruptcy, with a debt dispute between creditors fizzling as a recent increase in coal prices boosts their chances for recovery.
Peabody filed for Chapter 11 protection in April, after a sharp decline in coal prices left it unable to service $10 billion of debt. A creditor fight launched by some of Wall Street's most litigious investment funds, Aurelius Capital Management and Elliott Management, put the reorganization on hold.
Peabody expects to file its reorganization plan by mid-December and hopes to exit bankruptcy within a year of its April 2016 filing, Svec said.
Peabody's shares, which fell to a record low of $0.55 after its Chapter 11 filing in April, reached $10.70 in over-the-counter trading on Wednesday.
My apology Peabody Coal will exit it's backruptcy petition by next April 2017. But shares have had the past share suspension lifted. I wish and pray for a miracle that New World Resources will get the share suspension lifted very soon.
