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2014-12-23_GENERAL DOCUMENTS - C1981012
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2014-12-23_GENERAL DOCUMENTS - C1981012
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Last modified
8/24/2016 5:56:09 PM
Creation date
12/23/2014 1:27:31 PM
Metadata
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Template:
DRMS Permit Index
Permit No
C1981012
IBM Index Class Name
General Documents
Doc Date
12/23/2014
Doc Name
Notice of Filing of Report of the Monitor In the Canadian Proceeding
From
New Elk Coal Company, LLC
To
DRMS
Permit Index Doc Type
General Correspondence
Email Name
LDS
MPB
Media Type
D
Archive
No
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37. The Monitor will report on a revised cash flow forecast that is in the process of <br />being prepared by the Applicants in its next report. <br />G. CONCLUSIONS AND RECOMMENDATION <br />38. The initial Stay Period granted by this Honourable Court under the Initial Order <br />expires on December 31, 2014. In order to allow the Applicants sufficient time to <br />continue towards their restructuring goals, the Applicants are requesting that the <br />Stay Period be extended to March 1, 2015. <br />39. The Monitor believes that the Applicants have been, and are, acting in good faith <br />and with due diligence. <br />40. The Monitor further believes that the proposed extension is fair and reasonable <br />in the circumstances as it is consistent with the various milestone dates identified <br />throughout the Initial Order, the Claims Procedure Order, the Meetings Order <br />and the Support Agreement. <br />41. In addition, the Monitor is of the view that the Applicants will require the <br />protection of the stay of proceedings through to and including March 1, 2015 in <br />order to carry out (i) the claims process; (ii) the meetings of the Applicants' <br />affected secured creditors, affected unsecured creditors, and the WARN Act <br />
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