Allegiance Coal USA Ltd., a subsidiary of its Australian parent Allegiance Coal Ltd., filed for Chapter 11 bankruptcy protection on February 21, 2023.
On February 22, 2023, Shaun Fraser and Jason Ireland of McGrathNicol was appointed as Voluntary Administrators of Allegiance Coal Limited and its subsidiaries.
Allegiance Coal Limited was removed from the official list of the Australian Securities Exchange effective 28 August 2023.
Black Warrior Minerals, Inc. is the operator of the Black Warrior Mine.
Allegiance Coal Ltd. and its subsidiary, Allegiance Coal USA Ltd., were unable to either reorganize their business or find a going-concern buyer. The mining equipment liquidation efforts in August and September 2023 generated proceeds of $6.2 million.
With their material assets sold and lacking sufficient available funds to continue their bankruptcy cases, they moved to dismiss the cases in early February 2024.