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CLD - There Might Be A Way To Make A Profit From A Cloud Peak Bankruptcy
Cloud Peak Energy Inc
Cloud Peak Energy (CLD) is expected to file for Ch.11 bankruptcy in mid-April unless the company can sell some of their assets, which is extremely unlikely. This thermal coal miner located in Wyoming and Montana was able to avoid Ch.11 over the last few years when many other coal miners went bankrupt, but continued falling domestic thermal coal sales is finally forcing them into court. While I expect both CLD shareholders and unsecured noteholders to receive no recovery under a Ch.11 plan, the second lien notes warrant consideration by investors.