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Coal giant Murray Energy out of bankruptcy under new name

CHARLESTON, W.Va. (AP) — A major U.S. coal mining company has emerged from federal bankruptcy protection under a new name and ownership group.

Murray Energy Holdings says its Chapter 11 plan approved in federal bankruptcy court in Ohio became effective Wednesday. The company says it has completed the sale of its assets to an entity formed by former creditors.

The new company, Ohio-based American Consolidated Natural Resources Inc., is the largest privately owned U.S. coal operator. It has active mines in Alabama, Kentucky, Ohio, West Virginia and Utah.

The company also has separate management services agreements to operate Foresight Energy mines in Illinois and Murray Energy subsidiary Murray Metallurgical mines.

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Associated Press

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