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Case 1:20-bk-12043 Doc 436 Filed 09/18/20 Entered 09/18/20 15:58:33 Desc Main <br />Document Page 3 of 8 <br />proper before the Court pursuant to 28 U.S.C. §§ 1408 and 1409. The statutory bases for the <br />relief requested herein are sections 365 and 1112(a) of the Bankruptcy Code and Bankruptcy <br />Rules 1017(f), 1019, and 6006. <br />BACKGROUND <br />5. The Debtors commenced these jointly administered chapter 11 cases (the <br />"Chapter 11 Cases") by filing voluntary petitions for relief under chapter 11 of the Bankruptcy <br />Code on July 22, 2020 (the "Petition Date"). The Debtors were diversified coal producers <br />focused on coal and energy related assets and activities. The Debtors operated underground <br />and/or surface mines in Ohio, Kentucky, Virginia, Colorado, and Utah, with additional assets in <br />West Virginia. The committee of unsecured creditors was appointed on July 30, 2020 (Docket <br />No. 128) (the "Committee"). <br />A. The Sale Transactions. <br />6. On August 12, 2020, the Court entered an order (Docket No. 232) (the "Bid <br />Procedures Order," and the bidding procedures attached thereto as Annex 1, the `Biddin <br />Procedures") approving Bidding Procedures for the proposed sale of substantially all of the <br />Debtors' assets and establishing certain key dates and deadlines related thereto. <br />7. The Debtors and their advisors conducted a robust post -Petition Date marketing <br />process throughout these Chapter 11 Cases, described in greater detail in the Sale Order and the <br />declarations in support of the Sale Transaction (Docket Nos. 385 and 386). As noted in the <br />Debtors' Memorandum of Fact and Law in Support of their Motion to Approve the Proposed <br />Sales (Docket No. 396), the Sale Transaction reflected the best possible outcome given the <br />circumstances. The Sale Order was entered following the comprehensive resolution among the <br />Debtors, the DIP Lenders, and the Committee. <br />3 <br />