James River seeks more time for bankruptcy plan

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Associated Press

Posted on July 2, 2014 at 5:01 AM

RICHMOND, Va. (AP) — James River Coal Co. is asking a federal bankruptcy court to give it more time to propose a Chapter 11 plan.

Richmond-based James River says in a motion that it needs an additional 100 days to propose a plan while it searches for a buyer or a sponsor for the plan.

James River says numerous matters need to be resolved. These matters include determining whether a reorganization plan or a liquidation plan would best serve the interests of creditors and other relevant parties.

The Richmond Times-Dispatch (http://bit.ly/1lNe2RC ) says a hearing on the motion is set for July 10.

James River filed for Chapter 11 bankruptcy in April.

The company operates six mining complexes in Kentucky, West Virginia and Indiana, and employs more than 1,000 workers.

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Information from: Richmond Times-Dispatch, http://www.timesdispatch.com

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