The owner of struggling Trinity Coal Corp. has put up $15 million to stop the bankruptcy auction process for the company’s Appalachian coal mining operations — a halt that buys Trinity Coal executives time to negotiate a bankruptcy exit plan with its lenders, Dow Jones Newswires reported yesterday. Trinity Coal’s owner, India-based steel and energy conglomerate Essar Global Ltd., agreed to spend $15 million to keep the company operating and push back a series of auction deadlines required by Trinity Coal's lenders, according to court papers. The deal pushes back Trinity Coal's bankruptcy loan-repayment deadline to Nov. 8.
