Throughout Alpha Natural Resources’ (“ANR”) chapter 11 proceedings, Davis Polk has advised the administrative agent and the collateral agent for ANR’s prepetition secured credit facilities and the administrative agent and collateral agent for ANR’s debtor-in-possession credit facilities. On July 7, 2016, ANR’s plan of reorganization (the “Plan”) was confirmed by the Bankruptcy Court for the Eastern District of Virginia. The Plan, which was ultimately supported by every major creditor constituency, involves the sale of certain of ANR’s assets to a newly created company, Contura Energy, Inc., owned by ANR’s prepetition secured lenders, and the emergence of ANR from chapter 11 as a going concern operating its remaining assets. Davis Polk worked closely with a steering committee of first-lien and DIP lenders to design and implement the Plan structure and the structure of Contura Energy, Inc. to enable it to operate the assets it will purchase. ANR expects to emerge from chapter 11 in July, completing a successful restructuring.

ANR is one of the largest and most regionally diversified coal suppliers in the United States. With affiliate mining operations in Virginia, West Virginia, Kentucky, Pennsylvania and Wyoming, ANR supplies metallurgical coal to the steel industry and thermal coal to generate power to customers on five continents. ANR filed for protection under chapter 11 of the U.S. Bankruptcy Code on August 3, 2015.

The Davis Polk insolvency and restructuring team included partner Damian S. Schaible, counsel Damon P. Meyer and associate Bradley A. Schecter. The M&A team included partners William L. Taylor and Lee Hochbaum. The finance team included partner Kenneth J. Steinberg and associate Hilary Dengel. The capital markets team included partner Byron B. Rooney. The litigation team included partner James I. McClammy. Partner David H. Schnabel provided tax advice. All members of the Davis Polk team are based in the New York office.

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