Thursday, July 3, 2014

James River Coal "NOTICE OF ADJOURNMENT OF AUCTION AND SALE HEARING" $JRCC $JRCCQ

PLEASE TAKE NOTICE that:
1. On May 9, 2014, the United States Bankruptcy Court for the Eastern District of Virginia entered an Order (i) Approving the Strategic Transaction Bidding Procedures, (ii) Scheduling Bid Deadlines and the Auction, (iii) Approving the Form and Manner of Notice Thereof and (iv) Granting Related Relief [ECF No. 254] (the “Strategic Transaction Bidding Procedures Order”)
2. 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 14, 2014 at 10:00 a.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): July 17, 2014 at 1:00 p.m. (prevailing Eastern Time), to be held before the Honorable Kevin R. Huennekens, at the United States Bankruptcy Court for the Eastern District of Virginia, 701 East Broad Street, Room 5000, Richmond, Virginia 23219.
Dated: July 3, 2014
Are they having trouble getting bids? The stock has been hovering around 30 cents, but the 2015 bond last traded at 2 cents.

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