As seen in The Deal’s “For Coal Producers, Life Isn’t a Gas”
The Deal reports that coal companies are continuing to struggle financially as a result of environmental regulations being imposed by the government in order to reduce greenhouse gas emissions, along with the increased use of natural gas obtained via fracking. Finding it hard to compete with cleaner, cheaper sources of energy, many coal producers are either attempting to restructure or filing for bankruptcy.
According to Kaye Scholer Bankruptcy & Restructuring Partner Madlyn Gleich Primoff, "The coal story is really a natural gas story.” She continues, "If we now have an increasingly abundant supply of natural gas becoming increasingly inexpensive relative to the cost of getting coal out of the ground and the enormous cost of transporting it, that makes coal a less attractive energy source."
Also of Interest
- IFLR1000 Recognizes Kaye Scholer’s Global Presence, Practices and Lawyers October 19, 2016 • Recognitions
- Kaye Scholer Clients Achieve Nearly Full Recovery in Arch Coal Chapter 11 Proceeding October 14, 2016 • Client Successes
- New LSTA Par/Near Par Delayed Compensation Regime August 31, 2016 • Client Alerts
- Following Five-Day Trial, Kaye Scholer Secures Win for Medicalgorithmics August 25, 2016 • Client Successes
- Primoff Named Best in Insolvency & Restructuring at Americas Women in Business Law Awards August 22, 2016 • Recognitions
- Best Lawyers 2017 Recognizes 41 Kaye Scholer Lawyers August 15, 2016 • Recognitions
- Summer Associates Successfully Assist Transgender Clients July 27, 2016 • Client Successes
- NISPOM’s New Insider Threat Program Is an Opportunity to Establish Competitive Edge July 13, 2016 • Client Alerts
- LSTA Distressed vs. Par/Near Par Secondary Trading Documents—A Review and Analysis June 30, 2016 • Client Alerts