Last of the US coal barons: Murray files bankruptcy

On 29 October 2019, Murray Energy Holdings Corporation ("Murray") and several subsidiaries filed for Chapter 11 bankruptcy. Murray's bankruptcy petition included US$7.3 billion in debt and US$5.6 billion in assets. As part of the petition, a restructuring plan that would cancel almost all of Murray’s pre-bankruptcy equity and debt was filed. This stalking horse bid had approval of approximately 60% of Murray's senior debtholders and would continue with much of the company's pre-bankruptcy mines.