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2016-04-25_GENERAL DOCUMENTS - C1982056 (5)
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2016-04-25_GENERAL DOCUMENTS - C1982056 (5)
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Last modified
8/24/2016 6:21:06 PM
Creation date
4/26/2016 9:59:15 AM
Metadata
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Template:
DRMS Permit Index
Permit No
C1982056
IBM Index Class Name
General Documents
Doc Date
4/25/2016
Doc Name
Motion of the Debtors and Debtors in Possession
From
United States Bankruptcy Court
To
DRMS
Permit Index Doc Type
General Correspondence
Email Name
MPB
JRS
JLE
Media Type
D
Archive
No
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Case 16-42529 Doc 32 Filed 04/13/16 Entered 04/13/16 11:43:47 Main Document <br />Pg5of21 <br />Agreement on a postpetition basis without notice and a hearing. Nonetheless, ADM may be <br />unwilling to do business with the Debtors without specific authorization from the Court for such <br />transactions. Indeed, courts have granted similar relief in other major coal company <br />reorganizations and other cases. See, e.g., In re Arch Coal, Inc., No. 16-40120 (Bankr. E.D. Mo. <br />Jan. 14, 2016) (Docket No. 84); In re Patriot Coal Corp., No. 12-12900 (Bankr. S.D.N.Y. Aug. <br />16, 2012) (Docket No. 365); accord In re Energy Future Holdings Corp., No. 14-10979 (Bankr. <br />D. Del. June 6, 2014) (Docket No. 860); In re AMR Corp., No. 11 - 15463 (Bankr. S.D.N.Y. <br />Dec. 22, 2011) (Docket No. 433).3 <br />12. As a consequence, counterparties have come to expect that debtors that wish to <br />enter into trading transactions will seek and obtain such relief. Thus, out of an abundance of <br />caution, the Debtors request that the Court determine that the performance of the ADM <br />Agreement and entering into transactions under such agreement are "ordinary course <br />transactions" within the meaning of section 363(c)(1) of the Bankruptcy Code, or, in the <br />alternative, grant the Debtors authority pursuant to section 363(b)(1) of the Bankruptcy Code to <br />enter into transactions and perform under the ADM Agreement without further order of the <br />Court. <br />13. To effectively manage the risks inherent in the Debtors' businesses, the Debtors <br />must also be able to continue to perform under the ADM Agreement on an uninterrupted basis <br />postpetition. Further, the Debtors must be able to maintain the confidentiality of the basic terms <br />of such transactions. Given the confidential and immediate nature of entering into transactions <br />under the ADM Agreement, it is impractical and counterproductive to require the Debtors to <br />seek separate approval with respect to each such transaction. <br />Unreported orders cited herein are not attached to this Motion. Copies of these orders will be made <br />available to the Court or other parties upon request made to the Debtors' counsel. <br />-5- <br />
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