Mississippi Minerals Inc. in Hartford (Sebastian County) and related companies filed for Chapter 11 bankruptcy protection last week, listing estimated debts of between $50 million and $100 million.
Its estimated assets, however, are between $100 million and $500 million, according to the filing by its attorney, Geoffrey Treece of Quattlebaum Grooms & Tull PLLC of Little Rock.
Mississippi Minerals produces metallurgical grade coal and has its administrative office in Pittsburgh, according to its website. Mississippi Minerals is a subsidiary of Haldia Coke and Chemicals Pvt. Ltd. India.
The company’s initial Chapter 11 bankruptcy didn’t list many details about the debt or assets. A more detailed filing is due by the end of the month.
The largest debts listed in the filing are loans from Punjab National Bank in London for $11 million and the Export-Import Bank of India for $10 million.
Last week, related companies Sebastian Mining LLC, Sebastian Management LLC and Sebastian Leasing LLC each filed for Chapter 11 bankruptcy protection in U.S. Bankruptcy Court in the Western District of Arkansas.
Treece has asked the U.S. Bankruptcy Court to administer all the cases as one.
Treece didn’t immediately return a call for comment, nor did Mississippi Minerals.
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