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BRIEF-Peabody Energy files plan of reorganization, disclosure statement
December 22, 2016 / 11:54 PM / a year ago

BRIEF-Peabody Energy files plan of reorganization, disclosure statement

Dec 22 (Reuters) - Peabody Energy Corp

* Filed its plan of reorganization and disclosure statement with U.S. Bankruptcy court for Eastern district of Missouri

* Peabody - Proposed plan provides for a new, sustainable capital structure that significantly reduces pre-filing debt levels by more than $5 billion

* Is targeting emergence around beginning of Q2 of 2017

* Peabody Energy Corp - Board to comprise of CEO, a director chosen by co, appointments from 3 large creditor groups, 4 directors chosen by search process

* Peabody currently expects to have a hearing on disclosure statement on Jan. 26, 2017

* Peabody Energy Corp - Three key stakeholder groups reached agreement with co on framework that culminated in plan of reorganization filed today

* Plan also provides for a nine-member board of directors

* Peabody Energy completes key milestone toward emergence from chapter 11; files plan of reorganization and disclosure statement

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