TheNew York Stock Exchange on April 13 suspended trading of 's common stock,following the U.S. coal giant's recent filing of voluntary petitions forreorganization under Chapter 11 of the U.S. Bankruptcy Code.
The company, along with majority of its wholly-owned domesticsubsidiaries and a subsidiary in Gibraltar, filed for reorganization in the U.S. Bankruptcy Court for the Eastern Districtof Missouri, accordingto a Form 8-K filed April 13.
The NYSE has informed the coal company that it will apply to theU.S. Securities and Exchange Commission to begin proceedings to delist Peabody'scommon stock.
Since Peabodysaid it does notintend to appeal the NYSE's determination, the company's common stock isexpected to begin trading on the OTC Pink Sheets marketplace on April 14 under the symbol BTUUQ.