Patriot Coal Corporation announced that its reorganization plan became effective yesterday, marking the successful completion of the chapter 11 restructuring process, ABL Advisor reported. In conjunction with the plan becoming effective, Patriot has completed the transactions to sell most of Patriot's operating assets to Blackhawk Mining, LLC and to sell substantially all of its remaining assets and liabilities to an affiliate of Virginia Conservation Legacy Fund, Inc. Centerview Partners LLC is serving as financial advisor and investment banker for Patriot, and Kirkland & Ellis LLP is serving as legal advisor to Patriot. Alvarez & Marsal is serving as Chief Restructuring Officer for Patriot.
