REV15451 - Laserfiche WebLink

Home Browse Search

~CIICC3 II-w. PR-' February _G, 1999 Pucc'_ 7. Response accepted. 8. Response accepted. 9. This issue has been resolved. The Lehman Brothers Merchant Banking Partners is a shareholder, not an owner, of the P&L Coal Holdings Corporation. [n addition, three other entities have been added as shareholders to the P&L Coal Holdings Corporation; Lehman Brothers Offshore Investment Partners, LBI Group and Co- Investment Partners. The AVS has been changed by OSNI-AVS to reflect these additions. Seneca supplied revised information to reflect these additions as well. Although not a requirement, the AVS listing for P&L Coal Holdings Corporation does not have beginning dates or AVS entity numbers for Lehman Brothers Merchant Banking Partners, Lehman Brothers Offshore Investment Partners, LBI Group and Co-Investment Partners. Seneca might want to add this information in with the next submittal. 10. Seneca has responded that the Lehman Merchant Bank does not have to be added to the organizational chart since it is a shareholder. Rule 1.04 (83a) defines "owns and controls" as any one or combination of the listed relationships. Under this definition, an entity is considered a controller if it holds 10% through 50 % of voting shares. Peabody has entered the four companies into AVS as owners or controllers of P&L Coal Holdings Corporation. The Division assumes that one or more relationships of Regulation 1.04(83a)(b) apply, including the relationship of owning 10 % through 50 % of voting shares. Is this assumption correct? If so, Lehman Brothers Merchant Banking Partners, Lehman Brothers Offshore Investment Partners, LBI Group and Co-Investment Partners are presumed to be controllers of P&L Coal Holdings Corporation. Since there are now four new additions to the P&L Coal Holdings Corporation organizational tree, the four entities need to be added to the organizational chart. Please submit a revised organizational chart showing these additions. If the DMG's interpretation of "owns and controls" as discussed above, is incorrect, SCC can supply evidence to the Office of Surface Mining (OSM) that any or all of the four companies are not owners and controllers of P&L Coal Holdings Corporation, according to the definition in Rule 1.04(33a). OSIv1 can then remove the four companies from AVS. 11. Seneca has responded that the organizational information for Lehman Merchant Bank does not have to be added to Attachment 3-~ since it is a shareholder and not an owner of P&L Coal Holdings Corporation. However, for the reasons stated in item number 10 above, either provide evidence to OSM that the four companies