Westmoreland Coal Company filed a motion in the US Bankruptcy Court for the sale of substantially all assets of the Kemmerer on January 18, 2019. The debtor seeks the Court's approval for the sale of substantially all assets of the Kemmerer to the successful bidder. The debtor seeks designate a stalking horse bidder for the assets by February 7, 2019.

To qualify as a qualified bidder, interested parties should submit their bids by February 15, 2019, along with good-faith deposit in the amount of $2.5 million of the bid price. The initial minimum overbid should be at least $0.5 million more than the initial purchase price. The debtor has scheduled an auction on February 19, 2019.

The stalking horse bidder would be entitled to a break-up fee of 2.5% of the cash consideration and expense reimbursement of $0.50 million in case of termination of the asset purchase agreement. The sale hearing is scheduled for February 28, 2019.