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REV103469
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REV103469
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Entry Properties
Last modified
8/25/2016 1:14:19 AM
Creation date
11/22/2007 1:07:15 AM
Metadata
Fields
Template:
DRMS Permit Index
Permit No
C1980005
IBM Index Class Name
Revision
Doc Date
2/26/1999
Doc Name
IDETIFICATION OF INTERESTS ADEQUACY REVIEW PR 2 SENECA II W C-82-057 MR 13 YOAST MINE C-94-082 MR 49
From
DMG
To
MIKE BOULAY
Type & Sequence
MR49
Media Type
D
Archive
No
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<br />as [!ae owner; <br />This issue has been resolved. The Lehman Brothers Merchant Banking Partners is <br />a shareholder, not an owner, of the P&L Coal Holdings Corporatiot. In addition, <br />three other entities have been added as shareholders to the P&L Coal Holdings <br />Corporation; Lehman Brothers Offshore Investment Partners, LBI Group and Co- <br />Investment Partners. The AVS has been changed by OSM-AVS to reflect these <br />additions. Seneca supplied revised information to reflect these additions as well. <br />Although not a requirement, the AVS listing for P&L Coal Holdings Corporation <br />does not have beginning dates or AVS entity numbers for Lehman Brothers <br />Merchant Banking Partners, Lehman Brothers Offshore Investment Partners, LBI <br />Group and Co-Investment Partners. Seneca might want to add this information in <br />with the next submittal. <br />10. If Lehman Merchant Bank owns P&L Coa! Holdings Corporation, please add <br />Lehman Merchant Bank to the organizational chart that was provided in the <br />submittal; <br />Seneca has responded that the Lehman Merchant Bank does not have to be added <br />to the organizational chart since it is a shareholder. However, under the definition <br />of "owns or controls", found in Regulation 1.04(83a)(b)(v), an entity is considered <br />a controller if, among other relationships, it holds ] 0% through ~0 % of voting <br />shares. Because Peabody has entered the four companies into AVS as owners or <br />controllers of P&L Coal Holdings Corporation, the Division assumes that one or <br />more relationships of Regulation 1.04(83a) apply, including the relationship of <br />owning 10 % through 50 % of votin shares. If this assumption is incorrect, <br />Seneca can supply evidence to the Office of Surface Mining (OSM) that any or all <br />of the four companies are not owners and controllers of P&L Coal Holdings <br />Corporation, according to the definition in Regulation 1.04(83a), and, then, OSM <br />can remove the four companies from AVS. <br />However, if the Division's assumption of ownership and control is correct, then, <br />Lehman Brothers Merchant Banking Partners, Lehman Brothers Offshore <br />Investment Partners, LBI Group and Co-Investment Partners are presumed to be <br />controllers of P&L Coal Holdings Corporation. Therefore, Regulation 2.03.4(3) <br />requires that specific information be provided for the owners or controllers of the <br />applicant. Since there aze now four ne~v additions to the P&L Coal Holdings <br />Corporation organizational tree, the four entities need to be added to the <br />
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