Coal Bankruptcies and Landowner Tags

BluegrassBilly

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Joined
Jan 23, 2018
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219
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Kentucky
Two major Appalachian coal companies have filed for bankruptcy in the past few weeks. Under Hunter Access Agreements with Kentucky, those two companies are entitled to 14 fully transferable elk tags a year. I’m curious how the estates/creditors/courts will handle those tags.

An enterprising person might sense an opportunity.
 
You opening a coal mine? Lol

Don't forget there are different kinds of bankruptcy.
More than likely they filed for "bankruptcy protection", allowing them to restructure the company.
 
More than likely they filed for "bankruptcy protection", allowing them to restructure the company.

They did, indeed. But as is often the case with Appalachian coal bankruptcies, no restructuring plan is ever confirmed - it merely buys the company (read: management) time to to sell off the assets and dispose of the bad debts (including pension and reclamation obligations). In fact, one of these companies got overly invested in buying the reclamation rights off of other bankrupt companies.

My point is that if the creditors' committees knew about the right of the estate to control $1M a year worth of elk tags ($100k auction tag is not unheard of around here), they might be inclined to press the management not to squander them.
 
July 1 the 4th and 6th largest coal mines in the nation in Gillette, WY are closed after being denied a $20 mil loan to keep operating through bankruptcy proceedings. 600 workers were sent home. That kind of stuff is hitting across the nation.
 
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