- 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.