Wyoming coal company bankruptcy auction pushed back a week
GILLETTE, Wyo. (AP) — An auction of a bankrupt Wyoming coal company’s assets has been pushed back a week.
Gillette-based Cloud Peak Energy Corp. filed a motion Wednesday pushing back its auction from Thursday to Aug. 8.
The Gillette News-Record reports the filing also resets a stipulation the company may select a stalking horse bidder for any or all assets up to two days before auction.
Should a stalking horse bidder emerge, the auction will take place Aug. 19 in federal bankruptcy court in Delaware.
Cloud Peak operates the Antelope and Cordero Rojo coal mines in Wyoming and the Spring Creek mine in southern Montana.
The company is selling its assets to cover nearly $400 million in outstanding debt.
Information from: The Gillette (Wyo.) News Record, http://www.gillettenewsrecord.com