Monday, July 21, 2014

James River Coal Delays Auction Again $JRCC $JRCCQ

Latest filing.

Pursuant to the Strategic Transaction Bidding Procedures, the Debtors have determined, in their reasonable judgment and in consultation with the DIP Agent and the UCC, to adjourn the Auction and the Sale Hearing to the following dates:
(a) Auction: July 28, 2014 at 1:00 p.m. (prevailing Eastern Time), to be held at the offices of counsel to the Debtors, Davis Polk & Wardwell LLP, 450 Lexington Avenue, New York, New York 10017.
(b) Sale Hearing (if the Successful Bid contemplates a Sale): Date to be determined
Not having much luck marketing the assets, I wonder?