KTRV LLC

Case filing & court posture: KTRV LLC, a holding company for Heritage Coal & Natural Resources, LLC, filed chapter 11 on March 30, 2025 in the U.S. Bankruptcy Court for the District of Delaware. Dkt. 1 Judge Mary F. Walrath presides (Case No. 25-10601). The company faced liquidity challenges after alleged fraud in an asset acquisition and secured debt of approximately $15.8 million to Bedrock Industries.

Liquidity & financing path: The debtors obtained authorization to use cash collateral, with an interim order entered on April 2, 2025. Dkt. 57 The interim order granted adequate protection to Bedrock Industries and established procedures for managing restricted cash.

Restructuring outcome: The company pursued asset sales under section 363. Two sale orders were approved on June 25, 2025: one to 97 Mining Equipment Company, LLC and 97 Mining Operating Company, LLC (Dkt. 401) and another to Simkol Corp. and Fearless Leasing, LLC (Dkt. 402). Total consideration from the sales was approximately $21.65 million.

Plan confirmation & effective date: A liquidating chapter 11 plan was filed on September 1, 2025. Dkt. 493 The plan was confirmed on October 23, 2025, and became effective on November 1, 2025. A liquidating trustee was established to administer the liquidation and distributions, with estimated GUC recoveries of 0.5–10%.