Clearwater Natural Resources First Day Pleadings

As earlier reported, Clearwater Natural Resources, LP and its affiliates Miller Bros. Coal, LLC and Clearwater Natural Resources, LLC filed for bankruptcy in the United States Bankruptcy Court for the Eastern District of Kentucky today.  The companies undertake coal mining operations in the Central Appalachian region.  As is customary in major corporate bankruptcies, the companies immediately filed “first day” pleadings seeking relief from certain bankruptcy code provisions.  The following is a complete list (with links to copies of the documents) of the company’s first day pleadings filed thus far:

• Chapter 11 Voluntary Petition
• Corporate Resolution
• Equity Security Holders
• 20 Largest Unsecured Creditors
• Motion for Joint Administration
• Motion for Hearings to be Conducted in the Lexington Division
• Motion to Establish Notice Procedures and Master Service List
• Motion to Extend Time to File Schedules and Statement of Financial Affairs
• Motion to Maintain Bank Accounts and Continue Use of Existing Business Forms
• Motion to Pay Pre-Petition Wages, Salaries and Related Items
• Motion for Authority to Continue Workers’ Compensation and Surety Programs and Pay Prepetition Obligations In Respect Thereof
• Motion for Order Providing Adequate Assurance of Utility Payments
• Motion to Pay or Honor Pre-Petition Obligations to Certain Critical Vendors
• Motion to Enter Into Post-Petition Financing Agreement, Utilize Cash Collateral and for Adequate Protection
• Motion for Authority to Pay Pre-Petition Sales, Use and Other Taxes
• Application to Employ Administar Services Group, LLC as Claims & Notice Agent
• Application to Employ Vinson & Elkins LLP as Counsel for Debtors
• Motion to Establish Procedures for Monthly and Interim Compensation and Reimbursement of Expenses for Case Professionals

For more details regarding Clearwater’s business operations, please see the earlier posting regarding the company’s bankruptcy filing.

UPDATE: The bankruptcy court has now entered orders with respect to many of Clearwater’s first day motions.  For details on the orders, please follow this link.

Clearwater Natural Resources Files for Bankruptcy

Today, Clearwater Natural Resources, LP and its affiliates Miller Bros. Coal, LLC and Clearwater Natural Resources, LLC filed for bankruptcy in the United States Bankruptcy Court for the Eastern District of Kentucky.  The companies undertake coal mining operations in the Central Appalachian region.  Clearwater was formed in 2005 and acquired Miller Bros., which had an operating history of more than 25 years in the region.  Clearwater also acquired all of the interests in Knott Floyd Land Company, another coal mining company, in 2006.

Miller Bros., which Knott Floyd’s assets were consolidated into, controls a reserve of approximately 61 million tons of primarily low to medium-sulfur coal, located in six Kentucky counties.  The company’s coal resource base represents over 15 years of production at current levels.  The company blamed its bankruptcy filing on several factors, including changes in permitting requirements which caused large expenditures to open new mines, rising costs that could not be passed along to customers and short-term liquidity constraints that could not be consensually addressed with its secured lenders.  The company intends to pursue a consensual sale process in the chapter 11 cases.

UPDATE: A list of Clearwater’s first day pleadings and links to copies of the documents can be found in a later entry by following this link.

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Lyondell Chemical Co. Files First Day Motions

As reported yesterday, Lyondell Chemical Co. and 78 affiliates filed voluntary bankruptcy petitions in the United States Bankruptcy Court for the Southern District of New York.  Collectively, the companies constitute all of the U.S. operations of LyondellBasell Industries and one European holding company.  Late last night and early this morning, Lyondell filed a host of “first day” pleadings, as is customary in large bankruptcy cases.  Below is a list of (and links to) the first day pleadings filed by Lyondell:

• Motion for an Order (I) Authorizing Debtors (a) to Obtain Post-Petition Financing, (b) to Utilize Cash Collateral and (c) to Purchase Certain Assets, (II) Granting Adequate Protection to Pre-Petition Secured Parties and (III) Scheduling Final Hearing
  • Declaration of Alan S. Bigman in Support of Motion for an Order (I) Authorizing Debtors (a) to Obtain Post-Petition Financing, (b) to Utilize Cash Collateral and (c) to Purchase Certain Assets, (II) Granting Adequate Protection to Pre-Petition Secured Parties and (III) Scheduling Final Hearing
  • Declaration of Douglas Pike in Support of Debtors’ Motion for (I) Authorization to Obtain Secured Post-Petition Financing on an Interim and Final Basis, (II) Finding of Adequate Protection for Pre-Prepetition Secured Lenders, (III) Scheduling Interim and Final Hearings and (IV) Granting Related Relief
  • Declaration of David Ying in Support of Debtors’ Motion for (I) Authorization to Obtain Secured PostPetition Financing on an Interim and Final Basis, (II) Finding of Adequate Protection for Pre-Prepetition Secured Lenders, (III) Scheduling Interim and Final Hearings and (IV) Granting Related Relief
  • Declaration of Robert A. Bartell, CFA in Support of Debtors’ Motion for (I) Authorization to Obtain Secured Postpetition Financing on an Interim and Final Basis, (II) Finding of Adequate Protection for Prepetition Secured Lenders, (III) Scheduling Interim and Final Hearings and (IV) Granting Related Relief
  • Declaration of Edward J. Dineen in Support of Motion for an Order (I) Authorizing Debtors (a) to Obtain Post-Petition Financing, (b) to Utilize Cash Collateral and (c) to Purchase Certain Assets, (II) Granting Adequate Protection to Pre-Petition Secured Parties and (III) Scheduling Final Hearing
• Motion for Joint Administration
• First Day Affidavit of Alan S. Bigman Pursuant to Rule 1007-2 of the Local Bankruptcy Rules for the Southern District of New York
• Motion for an Order (I) Extending Time to File Schedules and Statements, (II) Authorizing Debtors to Prepare a Consolidated List of Creditors, (III) Waiving the Requirement that Debtors File a List of Creditors and (IV) Approving the Form and Manner of the Notice of Commencement
• Motion for Entry of an Order Granting Administrative Expense Status to Debtors’ Undisputed Obligations Arising from the Postpetition Delivery of Goods Offered Prepetition
• Motion for an Order Establishing Notice Procedures and a Master Service List
• Motion for Interim and Final Order Authorizing Debtors to (I) Maintain and Use Existing Bank Accounts, Books, Records and Business Forms, (II) Maintain and Use Existing Cash Management System, as Modified, and (III) Provide Superpriority Status for Intercompany Receivables
• Application of Debtors for an Order Authorizing (I) Employment and Retention of Epiq Bankruptcy Solutions, LLC as Noticing and Claims Agent for the Debtors, and (II) the Appointment of Epiq Bankruptcy Solutions, LLC as Agent of the Bankruptcy Court
• Motion for Interim and Final Order Approving the Debtors’ Existing Investment Guidelines
• Debtors’ Motion for Interim and Final Orders Authorizing them to (I) Pay Prepetition Wages, Salaries, Employee Benefits and Other Compensation, (II) Maintain Employee Benefits Programs and Pay Related Administrative Obligations, (III) Allow Employees to Proceed with Outstanding Workers’ Compensation Claims and (IV) Authorize Applicable Banks and Other Financial Institutions to Receive, Process, Honor and Pay All Checks Presented for Payment and to Honor All Funds Transfer Requests
  • Declaration of Ian Dunn in Support of Debtors’ Motion for Interim and Final Orders Authorizing them to (I) Pay Prepetition Wages, Salaries, Employee Benefits and Other Compensation, (II) Maintain Employee Benefits Programs and Pay Related Administrative Obligations, (III) Allow Employees to Proceed with Outstanding Workers’ Compensation Claims and (IV) Authorize Applicable Banks and Other Financial Institutions to Receive, Process, Honor and Pay All Checks Presented for Payment and to Honor All Funds Transfer Requests
• Debtors’ Motion for Authorization to (I) Pay Certain Prepetition Claims of Critical Vendors and Certain Administrative Claimholders, and (II) Authorize Financial Institutions to Honor and Process Related Checks and Transfers
• Motion to Authorize Debtors to Pay Prepetition Employment Taxes, Regulatory Fees and Other Similar Taxes and Fees
• Motion for Interim and Final Orders Authorizing the Debtors to Pay Prepetition Amounts Under Their Insurance Programs
• Motion for an Order Enforcing and Restating Automatic Stay and Ipso Facto Provisions
• Motion for an Order Establishing Procedures for Interim Compensation and Reimbursement of Expenses for Professionals and Committee Members
• Motion for an Order Authorizing Debtors to Employ and Compensate Certain Professionals Utilized in the Ordinary Course of the Debtors’ Business
• Motion for an Order (I) Prohibiting Utilities from Altering, Refusing or Discontinuing Service, (II) Deeming Utilities Adequately Assured of Future Performance, and (III) Establishing Procedures for Resolving Objections by Utility Companies
• Motion to Authorize Debtors to Pay Prepetition Obligations Owed to Foreign Creditors
• Motion for an Order (I) Authorizing Debtors to Pay Prepetition Claims of Common Carriers, Contractors and Service Providers, and Warehousemen, and (II) Authorizing Their Banks to Receive, Process, Honor and Pay the Checks and Other Transfers Made to Common Carriers, Contractors and Service Providers, and Warehousemen

A hearing is scheduled to commence on the first day motions on January 7th at 4:00 p.m. Eastern.  More details regarding Lyondell’s bankruptcy filing can be found in an earlier post, located here.

UPDATE: The bankruptcy court has entered orders with respect to many of Lyondell’s first day pleadings.  Details of the orders that have been entered thus far can be found here.

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Lyondell Chemical Co. and Affiliates File for Bankruptcy

On January 6, 2008, Lyondell Chemical Co. and 78 affiliates filed voluntary bankruptcy petitions in the United States Bankruptcy Court for the Southern District of New York.  Collectively, the companies constitute all of the U.S. operations of LyondellBasell Industries and one European holding company.  The companies reported over $27 billion in assets and $19 billion in liabilities in their bankruptcy petitions.  The companies further reported that they have received commitments for $8 billion in debtor-in-possession financing ($3.25 billion of which constitutes new lending).

LyondellBasell, based in the Netherlands, was created when Dutch chemical company Basell International Holdings BV bought Houston-based Lyondell Chemical for $12.7 billion in December 2007.  Basell International is a unit of Access Industries, owned by Russian Len Blavatnik. In a statement, Mr. Blavatnik said his company is “committed to help LyondellBasell position for long-term success by addressing the challenges caused by the global economic crisis.”

UPDATES:

• A list of Lyondell’s first day pleadings, with links to view the documents, can be found in a later post by following this link.
• The bankruptcy court has entered orders with respect to many of Lyondell’s first day pleadings.  Details of the orders can be found here.
  

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Interlake Material Handling/United Fixtures Files for Bankruptcy

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