Murray lenders claim breaches of $450 million bankruptcy loan

THE WALL STREET JOURNAL | Murray Energy Corp., the nation’s largest private coal producer, said Tuesday it is negotiating to resolve lenders’ allegations that it breached its $450 million chapter 11 financing package.

Murray has been cut off from its bankruptcy financing after lenders alleged a series of breaches to their credit agreement, company advisers testified during a telephone hearing in the U.S. Bankruptcy Court in Columbus, Ohio. Lenders could agree to a 30-day forbearance period, but no such agreement is guaranteed, Murray’s advisers said.

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