Davis Polk is advising James River Coal Company (“James River”) in connection with its restructuring under Chapter 11 of the Bankruptcy Code and a related $110 million debtor in possession (DIP) financing facility. James River and all of its 33 wholly owned subsidiaries filed voluntary petitions for reorganization under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the Eastern District of Virginia (Richmond Division) on April 7, 2014.

In connection with its restructuring, James River has obtained a $110 million secured superpriority term loan DIP financing facility, with Cantor Fitzgerald Securities acting as sole administrative agent and collateral agent, and Deutsche Bank Securities Inc. acting as the arranger, which was approved by the Bankruptcy Court on April 9, 2014.

James River is an industry leading producer and marketer of coal in the eastern United States, with six active mining complexes in Central Appalachia and the Midwest coal regions. James River ships to domestic and international electricity generators, industrial users and metallurgical coal customers, and controls approximately 340 million tons of proven and probable coal reserves available for mining projects.

The Davis Polk restructuring team includes partners Marshall S. Huebner and Brian M. Resnick, and associate Michelle M. McGreal. The credit team includes partner Jinsoo H. Kim and counsel J.W. Perry. All members of the Davis Polk team are based in the New York office.