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Bid deadline for Walter Energy Mines extended

BlueTree Advisors Inc., in charge of restructuring the company's debt, confirmed the extension June 3

A deadline to submit bids on Walter Energy's three Canadian mine properties in Northeastern B.C., has been extended until June 10.

Joel Shaffer, a spokesperson for BlueTree Advisors Inc., the company in charge of restructuring the bankrupt miner's debt, confirmed the new date with the Dawson Creek Mirror June 3. 

After the deadline, the company, its advisors and KPMG Canada, who is in charge of monitoing the debt restructure, will review prospective bids, Shaffer added. 

B.C. Supreme Court filings on the sale of the mine properties showed that as many as 82 bidders showed interest in the mine properties as of March, but it's unclear at this time how many intend to follow through. 

The immenent sale of the mine properties may mean a resolution is in sight to an outstanding labour dispute surrounding the layoffs of about 300 workers at the Wolverine Mine, who are represented by the United Steelworkers, Local 1-424.

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