trending Market Intelligence /marketintelligence/en/news-insights/trending/DtlwEJH636knS7ZM93Ijcw2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Arch Coal calls coal contract objection 'wholly without merit'

Essential Energy Insights - June 11, 2020

Webinar Replay

Deep Dive on Oil & Gas for Financial Institutions

Essential Energy Insights - May 28, 2020

Essential Energy Insights - May 14, 2020

Arch Coal calls coal contract objection 'wholly without merit'

Arch CoalInc. accused MidAmerican Energy Co. of making "falsestatements," and omitting central facts in an objection to its reorganizationconfirmation, calling it "wholly without merit."

The charge was in response to a Sept. 15 objection filed byMidAmerican to Arch's confirmed reorganization plan in regards to the coalproducer's assumption of six coal-supply contracts with the energy provider.MidAmerican said it made the agreement to buy coal from Arch "on certainconfidential terms and conditions," which it said the coal producer mayhave disclosed to third parties during the bankruptcy process.

MidAmerican also said the coal producer failed "todemonstrate adequate assurance of future performance of reorganized Arch coalsales of the obligations that will arise under the Contracts."

However, in the reply memorandum Arch filed on Oct. 7 in theU.S. Bankruptcy Court for the Eastern District of Missouri, the coal producersaid, "Nothing could be further from the truth."

"On September 15, 2016, two days after a successful andvirtually uncontested confirmation hearing, MidAmerican — a purchaser of[Arch's] coal under a long-term coal-supply agreement — sought to commence ameritless litigation that is a waste of judicial and party resources," theArch filing said.

Arch said in the filing that it had continued to supply coalto MidAmerican throughout the bankruptcy process without interruption and didnot provide any "plausible factual basis" that it brokeconfidentiality.

Furthermore, Arch called MidAmerican's objection a"pretext to strong-arm [Arch] to renegotiate the coal-supplycontracts" in the filing. "MidAmerican is not seeking assurance ofcoal delivery from what is likely now the country's strongest coal provider; itis looking for a way out."

Arch said in the document that it reserved the right to seeksanctions under bankruptcy rules such as covering attorney fees incurred indealing with the MidAmerican litigation.

Arch did not respond to a request for comment on thedispute, while MidAmerican said it would not comment on pending litigation.