James River Coal Co. is asking a bankruptcy court to give it more time to propose a chapter 11 plan, the Associated Press reported today. Richmond, Va.-based James River said in a motion that it needs an additional 100 days to propose a plan while it searches for a buyer or a sponsor for the plan. James River says numerous matters need to be resolved, including whether a reorganization plan or a liquidation plan would best serve the interests of creditors and other relevant parties. A hearing on the motion is set for July 10.
