Bankruptcy judge okays Westmoreland plan to sell Kemmerer mine to lenders

first_imgBankruptcy judge okays Westmoreland plan to sell Kemmerer mine to lenders FacebookTwitterLinkedInEmailPrint分享The Wall Street Journal ($):Westmoreland Coal Co. is set to unload its Wyoming mine to lenders after an earlier deal to sell the mine fell through.Judge David R. Jones of the U.S. Bankruptcy Court in Houston on Wednesday granted Westmoreland’s request to sell its Kemmerer mine complex to its lenders. The sale still needs to close. It also depends on the buyers striking a new collective bargaining agreement with a mine workers union.Lenders are using debt they are owed by Westmoreland to acquire the mine. Kemmerer was acquired via the lenders’ credit bid, which was worth at least $300 million, court papers show. A credit bid allows lenders to use debt they are owed as payment for an asset. The lender group is also assuming certain liabilities tied to the mine, according to court documents.The Wyoming mine wasn’t among the collection of mines lenders acquired earlier during Westmoreland’s chapter 11 bankruptcy. Westmoreland’s mines are now owned by a new lender-controlled company, Westmoreland Mining LLC, which left chapter 11 earlier this year.Kemmerer, meanwhile, was expected to be sold earlier this year to a company owned by businessman Thomas Clarke. That deal fell through, so Westmoreland struck an alternative transaction with its creditors. On Wednesday, Judge Jones also approved related settlements and a liquidation plan related to the Kemmerer sale.Westmoreland acquired the Kemmerer mine from Chevron Mining Inc. for approximately $179 million in 2011, court papers say. The company filed for chapter 11 protection in October 2018, citing high debt and the decline of its thermal coal mining business.More ($): Westmoreland Coal cleared to sell Wyoming mine to lenderslast_img read more

Rose Ladies Series: Screen swaps NHS duties for return to golf

first_img Hannah Screen is ready to make a return to competitive golf after a rewarding summer working for the NHS in the fight against Coronavirus.The 20-year-old member of the England women’s overseas squad flew back from Oklahoma University in March and found work as part of team involved in the NHS ‘test and trace’ process.The end of her working block coincides with her first competitive outing of the summer in the latest Rose Ladies Series at Buckinghamshire Golf Club.Screen (pictured above right) is joined in the mainly professional field by fellow amateurs Lily May Humphreys (above centre) and Ellie Gower (above left) for the third event in the series sponsored by England Golf ambassador Justin Rose and his wife Kate.Screen has landed a plum draw alongside Solheim Cup star Charley Hull and former England international Gabriella Cowley.And she’s looking forward to getting back onto the course after spending lockdown working not only in her back garden on her golf game, but also behind the scenes for the NHS.“It’s been really rewarding,” admitted Screen. “I feel as if in some small way I’m doing my bit to help the country’s fight.“My focus is turning back towards golf as competitions pick up again and, because there’s a chance I will be returning to America in the next few weeks, I can’t carry it on.“My job involves calling people who came into contact with those who had the virus and telling them about self-isolating.“The job as well as the training on safeguarding and confidentiality has helped teach me a lot.“I came back from university on 16 March and since then I’ve been doing uni work, the NHS job and bought a practice net to allow me to work on my game in the garden.“Along with the net, I’ve been doing what most people have done and practising putting on my carpet, so it’s been good to get back on the course recently and also head to the range.“I’ve really enjoyed going there with my brother Jeffrey who is only eight. Last week he hit the ball 135 yards. His swing is so good! Afterwards he said to me maybe he could go to university and play golf too!“It definitely feels like a long time since I played competitive golf so I’m really excited to be involved in the Rose Ladies Series.“I played a practice round on Monday and the course is in great condition – especially the greens.”Screen is no stranger to this week’s Buckinghamshire venue.As a teenager, the member at Berkhamsted Golf Club carried out work experience with the Ladies’ European Tour at the course where they have their HQ and also worked in hospitality.Now she’s eager to spend more time playing and added: “I worked at the Ladies Masters event in 2015 in hospitality but also got to help teach a group of disabled golfers on the range which was amazing.“I played the course once when I was 14, but having played it again this week I can’t wait to get out there.“I was on the putting green on Monday when Alice Hewson told me I had been drawn with Charley and Gabriella which is exciting.“I actually played nine holes with Charley once at Woburn Golf Club. I was only 14 and I’m not sure she’ll remember it!”A disrupted summer means Screen’s plans beyond the Rose Ladies Series are still clouded in doubt.She will take part in a Faldo Series Europe event at Brockett Hall next week and may take part in the English Women’s Amateur at Woodhall Spa at the end of July.But there is also an option to play the US Women’s Amateur in Washington DC ahead of a return for her third year at university.“It’s all a little bit up in the air,” confessed Screen who is heading into her junior (third) year at Oklahoma University studying business and communications.“I’m not sure when I will go back to America, but I am looking forward to returning to Uni.“I moved to Oklahoma from Houston in December and I have really enjoyed the last semester and managed all ‘A’ grades.“They also do sports so well in America and the competition level is so high that you are always improving.”AMATEUR TEE TIMES11.40 – Georgina Blackman, Lily May Humphreys, Bronte Law12.10 – Cloe Frankish, Georgia Hall, Ellie Gower12.50 – Charley Hull, Hannah Screen, Gabriella Cowley**Keep up to date with scoring from the event by following the England Golf Twitter feed** Tags: Ellie Gower, Hannah Screen, Lily May Humphreys, Rose Ladies Series 1 Jul 2020 Rose Ladies Series: Screen swaps NHS duties for return to golf last_img read more