On October 9, 2018, Westmoreland Coal Company entered into a restructuring support agreement (“RSA”) with holders of approximately 76.1% of its term loan, approximately 57.9% of its senior secured notes, and approximately 79.1% of its bridge loan (collectively, the “Ad Hoc Group”). To implement the RSA, Westmoreland filed voluntary petitions for relief under chapter 11 of the U.S. Bankruptcy Code on the same date.
Westmoreland’s affiliate, Westmoreland Resource Partners, LP (“WMLP”), simultaneously filed for relief under Chapter 11 of the U.S. Bankruptcy Code. Information on WMLP’s filing can be found at www.westmorelandmlp.com. Westmoreland’s Canadian subsidiaries and Westmoreland’s captive insurance company, Westmoreland Risk Management, Inc., are excluded from the filings.
All mining operations and customer agreements will continue in the ordinary course throughout the in-court restructuring process.
Day-to-day operations are also expected to continue as usual, including regular payment of employee wages and benefits without change or interruption and payment to key trade creditors for goods and services provided on or after the filing date.
Additional information on the process, including court filings and information about the claims process, are available at www.donlinrecano.com/westmoreland or through Westmoreland’s dedicated restructuring hotline at (800) 499-8519.