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WSJ: Walter Energy to file for bankruptcy

Jul. 14, 2015 6:50 PM ETWalter Energy, Inc. (WLT) StockWLTBy: Carl Surran, SA News Editor18 Comments
  • Walter Energy (NYSE:WLT) is preparing to file for Chapter 11 bankruptcy this week after agreeing on a fast-track restructuring process that would hand ownership of the coal miner to senior creditors and largely wipe out junior creditors, WSJ reports.
  • WLT and a group of senior bond and loan holders reportedly are finalizing an agreement that would allow the company to use cash pledged as collateral to fund its operations in bankruptcy.

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