Westmoreland Coal Company announced today that its Chapter 11 plan became effective today and that it has emerged from Chapter 11 as a privately held company owned and operated by a group of its former creditors. The United States Bankruptcy Court for the Southern District of Texas, Houston Division approved the Plan on March 2, 2019. Through its [...]
Westmoreland Coal and Westmoreland Resource Partners today announced that as of one minute after 11:59 p.m. Eastern Time, on March 13, 2019, 182,448 common units representing limited partner interests in WMLP were validly tendered and accepted for purchase by Westmoreland Coal Asset Corporation in Westmoreland's previously announced tender offer [...]
Westmoreland Coal Company announced today that the United States Bankruptcy Court for the Southern District of Texas, Houston Division approved the going-concern sale of its assets pursuant to its Chapter 11 plan. Westmoreland expects to complete transactions associated with its financial restructuring - which will preserve over a thousand jobs in [...]
Westmoreland Coal Company and Westmoreland Resource Partners, LP today announced that Westmoreland's wholly owned subsidiary, Westmoreland Coal Company Asset Corporation, has commenced a tender offer to purchase all of the publicly held common units of WMLP not currently owned by Westmoreland or its affiliates for $0.01 per Common Unit in cash [...]
Westmoreland Coal Company announced today that Gary Kohn has informed Westmoreland that, for personal reasons, he is resigning from his position as chief financial officer effective January 4, 2019. “On behalf of the Westmoreland team, I want to thank Gary for his strong leadership throughout the restructuring process as well as his many [...]
Westmoreland Coal Company announced today it has entered into a restructuring support agreement with members of an ad hoc group of lenders that hold approximately 76.1% of the Company’s term loan, approximately 57.9% of its senior secured notes, and approximately 79.1% of its bridge loan. To implement the RSA, Westmoreland today filed [...]
New Financing Will Simplify Capital Structure, Provide Working Capital, And Allow Additional Time to Develop Right-Sized Capital Structure ENGLEWOOD, Colo., May 22, 2018 -- Westmoreland Coal Company announced today that it has secured a new financing commitment for $110 million from an ad hoc group of the Company’s existing secured creditors [...]
ENGLEWOOD, Colo., April 02, 2018 -- Westmoreland Coal Company today reported its fourth quarter and full year 2017 financial results and provided an update on its capital structure evaluation. In light of ongoing discussions with Westmoreland's creditors in connection with the Company's capital structure review, Westmoreland will not host a [...]
ENGLEWOOD, Colo., March 19, 2018 -- Westmoreland Coal Company today announced that it plans to issue a press release reporting financial results for the fourth quarter and full year 2017 before the market opens on April 2, 2018. Westmoreland also announced that it intends to file its Form 10-K on April 2, 2018. In light of ongoing discussions with [...]
Commits to Running Coal Valley with Favorable Economics Secured; Engages Restructuring Advisers to Develop Options for Consolidated Capital Structure Improvement ENGLEWOOD, Colo., March 07, 2018 -- Westmoreland Coal Company today stated that it expects 2017 adjusted EBITDA to be near the high end of its previously issued range of $250 to $270 [...]
ENGLEWOOD, Colo., Nov. 28, 2017 -- Westmoreland Coal Company today announced that Kevin Paprzycki is stepping down from his position as Chief Executive Officer effective immediately. Mr. Paprzycki served in this position since 2015. The Board of Directors appointed Michael “Hutch” Hutchinson, Audit Committee Chairman and current member [...]
ENGLEWOOD, Colo., Oct. 31, 2017 (GLOBE NEWSWIRE) -- Westmoreland Coal Company (Nasdaq:WLB) today reported financial results for the third quarter and first nine months of 2017. Third Quarter Highlights Revenues of $358.0 million from 13.6 million tons sold Net loss applicable to common shareholders of $19.2 million, or $1.03 per share Adjusted [...]
