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Arch files for final decree closing Chapter 11 cases

Arch Coal Inc. has filed a motion seeking a final decree closing its Chapter 11 cases.

The motion, filed Dec. 28 with the U.S. Bankruptcy Court of the Eastern District of Missouri, says the outstanding claims in each case "have been fully resolved or will be fully resolved by Jan. 27, 2017."

Arch completed its financial restructuring and emerged from bankruptcy court protection in October with $300 million of cash on its balance sheet and debt of $363 million consisting of a new term loan and capital leases — about 7% of the debt level prior to restructuring. It also obtained third-party surety bonds covering 100% of its reclamation bonding requirements.