Contura Energy Reaches Proposed Resolution of West Virginia Litigation
BRISTOL, TN, November 29, 2016 – Contura Energy, Inc. today announced a proposed resolution of recent filings by the West Virginia Department of Environmental Protection (WVDEP) in the United States Bankruptcy Court, Eastern District of Virginia in connection with the successful restructuring of Alpha Natural Resources and the previously announced settlements of issues related to the implementation of Alpha’s plan of reorganization.
The proposed resolution, which was filed with the Bankruptcy Court today, would resolve all concerns raised by the WVDEP in its recent filings and would result in a dismissal with prejudice of its complaint. The resolution contemplates entry by the Bankruptcy Court of an order including findings of good faith on the part of all parties related to the design, negotiation and implementation of Alpha’s already-confirmed chapter 11 plan, as well as the related settlements between Alpha and Contura, and Alpha and its first lien lenders, respectively.
“We have always been of the view that Contura’s officers had acted in good faith in all respects, including in connection with the Alpha plan process, and we welcome this positive resolution,” said Neale Trangucci, independent director of Contura.
ABOUT CONTURA ENERGY
Contura Energy is a private, Tennessee-based company with affiliate mining operations across multiple major coal basins in Pennsylvania, Virginia, West Virginia and Wyoming. With customers across the globe, high-quality reserves and significant port capacity, Contura Energy reliably supplies both metallurgical coal to produce steel and thermal coal to generate power. For more information, visit www.conturaenergy.com.