PHOENIX ENERGY RESOURCES, LLC Bankruptcy Filing
Case Number: 24-00520
PHOENIX ENERGY RESOURCES, LLC filed a 11 chapter bankruptcy in the Northern District of West Virginia bankruptcy court on October 10, 2024. This is a voluntary filing; it was assigned the bankruptcy case number #24-00520.
PHOENIX ENERGY RESOURCES, LLC Filing Information
PHOENIX ENERGY RESOURCES, LLC filed for Chapter 11 bankruptcy on October 10, 2024, with case number 24-00520, according to recent court records. The corporation, which is based at 863 Quail Valley Drive in Princeton, West Virginia, has opted for bankruptcy proceedings under the most burdensome chapter of the US Bankruptcy Code. In this move, PHOENIX ENERGY RESOURCES, LLC will aim to restructure its debt obligations and achieve financial stability. As a result, this case will be heard by Judge David L Bissett in the West Virginia Northern District Court, where all pertinent bankruptcy information is expected to be addressed. This major development underscores the complexities of corporate finance and highlights the sometimes necessary steps that companies may take to navigate challenging economic conditions.
PHOENIX ENERGY RESOURCES, LLC, a coal mining company, has filed for bankruptcy. The company's asset range is estimated to be between $50 million and $100 million, indicating significant financial resources at its disposal prior to the filing. With approximately 1-49 creditors, PHOENIX ENERGY RESOURCES, LLC is likely facing substantial debt obligations that have led to this move. The liabilities of the company are expected to fall within a range of $10 million and $50 million. This suggests that while the company has substantial assets, its financial obligations are also considerable. As a coal mining firm, PHOENIX ENERGY RESOURCES, LLC operates in an industry heavily impacted by market fluctuations and environmental regulations. The specifics of the bankruptcy filing will likely provide further insight into the company's financial situation and potential future plans for restructuring or recovery.
PHOENIX ENERGY RESOURCES, LLC indicated on its bankruptcy petition that it does not expect there will be sufficient assets in the estate to make a payment to the unsecured creditors. This is a bad sign for creditors as it implies that no recovery is likely.
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PHOENIX ENERGY RESOURCES, LLC Docket Header
DISMISSED, PlnDue, DsclsDue, NTCAPR, CLOSED |
Northern District of West Virginia (Clarksburg)
Bankruptcy Petition #: 1:24-bk-00520
Assigned to: David L Bissett Chapter 11 Voluntary Asset Debtor disposition: Dismissed for Other Reason |
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| Debtor Phoenix Energy Resources, LLC 863 Quail Valley Drive Princeton, WV 24740 MARION-WV Tax ID / EIN: 45-4376290 |
rep. by |
David M. Jecklin
Lewis Gianola PLLC 1714 Mileground Morgantown, WV 26505 304-291-6300 Fax : 304-291-6307 Email: djecklin @ lewisgianola.com |
| U.S. Trustee United States Trustee 2025 United States Courthouse 300 Virginia Street East Charleston, WV 25301 304-347-3400 |
rep. by | Elizabeth Kavitz
DOJ-Ust 300 Virginia St. East Rm 2025 Charleston, WV 25301 304-347-3418 Fax : 304-347-3402 Email: beth.kavitz @ usdoj.gov Gary O. Kinder U.S. Trustee's Office 300 Virginia Street East Room 2025 Charleston, WV 25301 304-347-3400 Fax : 304-347-3402 Email: gary.o.kinder @ usdoj.gov |