trending Market Intelligence /marketintelligence/en/news-insights/trending/Qe85AkaUPqmhWMohqcYIFw2 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

Bankruptcy court sets auction procedures, date for Murray Energy assets

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

Bankruptcy court sets auction procedures, date for Murray Energy assets

Murray Energy Corp. received bankruptcy court approval for a bidding process to sell the company's assets.

The company is the largest private coal miner in the U.S. and filed for a Chapter 11 bankruptcy reorganization in October 2019. In a Jan. 9 order, the U.S. Bankruptcy Court for the Southern District of Ohio approved a final bid deadline of March 16 and an auction date of March 26.

Murray Energy is negotiating an asset purchase agreement with an entity formed at the direction of the company's ad hoc group of superiority lenders that will serve as a stalking horse bid for the assets. The company previously said the superpriority lenders would form an entity, now being called "Murray NewCo," with a board that will include former Murray Energy President and CEO Robert Murray as board chairman. Robert Moore, who leads Murray Energy and affiliated company Foresight Energy LP, will be president and CEO of the new entity.

An auction will be held at the offices of Kirkland & Ellis LLP in New York only if deemed necessary based on the bids received. Interested parties are encouraged to deliver a preliminary nonbinding indication of interest by a Feb. 4 preliminary deadline established by the order.

Objections to the sale are due by May 26, and the court scheduled a hearing for June 2 to consider the successful bids.