Posted on 04/17/2015 12:09:17 PM PDT by 2ndDivisionVet
ROANOKE, VA (AP) -- Coal producer Xinergy Ltd. and more than two dozen subsidiaries have filed for Chapter 11 bankruptcy.
Knoxville, Tennessee-based Xinergy filed a Chapter 11 petition last week in U.S. Bankruptcy Court in Roanoke, Virginia. The petition lists zero to $50,000 in assets and about $100 million to $500 million in liabilities....
(Excerpt) Read more at newsplex.com ...
Obama playing with his crotch reading this?
Reggie’s
They have more than $50k in assets in a single piece of mining equipment.
Just like bambi said he would.
I don’t think there is much of a market for used coal mining equipment these days.
The price of scrap mental is in the toilet so it probably is not even worth it to scrap the mining equipment.
This company is a casualty of Obama’s war on capitalism.
We are guaranteed life liberty and the pursuit of happiness, that’s it. The statist stole their ability to pursue given the regulatory environment. Not quite the destruction of Contract Law we have seen but related, IMHO....
Natural gas is crushing coal. The $50k in assets is likely their controlling shares in Whale Oil futures.
Thank you Environmental Destruction Agency.
Pray America is waking
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