Dutch coal miner New World Resources NV filed for bankruptcy protection in a U.S. court on Wednesday while officials negotiate cuts to the roughly EUR825 million ($1.1 billion) debt owed by the company, which has struggled to profit amid depressed global coal prices, Dow Jones Daily Bankruptcy Review reported today. New World Resources, whose operating subsidiaries mine for coal in the Upper-Silesian coal basin in Czech Republic and Poland, filed for chapter 15 protection. The company filed the case to block bondholders who are unhappy with the repayment terms of a proposed restructuring plan from filing a U.S. lawsuit to stop it. A British court has already approved the proposed restructuring plan.
