Schulte Advises Murray Energy in Acquisition of Armstrong Energy
Schulte advised Murray Energy Corporation and its affiliates as buyers in the Chapter 11 case of Armstrong Energy Inc. Part of a restructuring plan, the acquisition contemplates the formation of a new company with Armstrong's existing secured bondholders. Pending approval by the bankruptcy court, the new company will produce low-chlorine, high-sulfur thermal coal and manages coal preparation and shipment facilities.