Peabody Energy Corp., the world’s largest privately owned coal miner, filed for bankruptcy in St. Louis on Wednesday, blaming decreased demand from China and competition from cheap shale gas that hit hard the market for thermal coal.
Jones Day and Armstrong Teasdale have landed lead debtor’s counsel roles for the Chapter 11 case in Peabody’s home city, the latest insolvency filing by a major energy company so far this year. Peabody is saddled with $10.1 billion in debt, much of it incurred through an ill-fated expansion into Australia.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
