Coal company Foresight Energy LP has received more time to negotiate with debt holders after warning last week that it may need to file for chapter 11 protection, Dow Jones Daily Bankruptcy Review reported today. Foresight announced in financial documents that its bondholders and lenders have agreed not to take any action against the company through March 29 as the groups work to strike a debt-restructuring deal. Such talks have been going on since December, when an unfavorable court decision threw $596.7 million of senior bonds into default — and because of cross-default provisions, its bank and other debt as well. Overall, the company has $1.39 billion in debt as of Dec. 31.
