Laserfiche WebLink
ARGUMENT <br />POINT I <br />The Debtor Powderhorn Is Obligated to Perform <br />Reclamation, Notwithstanding This Bankruptcy, And the Debtor <br />Needs the Proceeds of the Sale of the Machinery and Equipment <br />to Fulfill Its Reclamation Obligations <br />Pursuant to 26 U.S.C. § 959(b), debtors in possession are <br />required to operate the estate in accordance with the <br />requirements of applicable state law: <br />[A] debtor in possession shall manage the <br />property in his possession as such [debtor <br />in possession] according to the <br />requirements of valid laws of the State in <br />which such property is situated, in the <br />same manner that the owner or possessor <br />thereof would be bound to do if in <br />possession thereof. <br />28 U.S.C. § 959(b). <br />Therefore, the Debtor Powderhorn is required to comply <br />with the reclamation and environmental remediation <br />requirements of the Colorado Coal Act and the regulations <br />thereunder. See, Ohio v. Kovacs, 469 U.S. 279, 285 (1985) <br />("(W]e do not question that anyone in possession of the site ... <br />[including the debtor in possession] must comply with the <br />environmental laws of the State of Ohio. Plainly, that person <br />I~ <br />