Houston Principal Hugh Ray, head of McKool Smith’s bankruptcy group, is quoted in an article by S&P Global Market Intelligence entitled “Armstrong Energy considers alternative interest for assets in reorganization.” The article focuses on the competing interests of entities wanting to control the coal producer’s assets, since the company filed for Chapter 11 bankruptcy on November 1st. Hugh told the publication he did not believe the reorganization process would involve fights over reclamation cases such as those of Alpha Natural Resources Inc. and Peabody Energy Corp. “Armstrong might face some executory contract fights with people who have lease agreements and contractual agreements,” he said.
The full article can be found here.