Remaining Patriot Coal Mines to Be Sold

Patriot Coal Corp. reached a new deal to sell two West Virginia mines that will relieve it of $400 million in debt.Read the Daily Bankruptcy Review article via The Wall Street Journal.

(Daily Bankruptcy Review is a daily newsletter with comprehensive coverage and analysis of emerging and in-progress insolvencies and turnarounds. For a two-week trial, visit http://on.wsj.com/DJBankruptcyNews, scroll to the bottom and click “try for free.”)

According to WSJ, American Apparel Inc. is avoiding default after it agreed it a deal with creditors that will give it $90 million.

Caesars Entertainment Operating Co. and its lenders have stalled on talks about the casino unit’s bankruptcy plan, the Associated Press reports.

According to the Financial Times, India’s Essar Steel, whose Canadian unit recently exited bankruptcy, is starting production on a $1.9 billion mining facility in Minnesota, the first new one on the Mesabi Iron Range in more than 40 years.

Forbes looks at which companies could be next to file for bankruptcy in the energy industry.

Write to Melanie Cohen at [email protected]. Follow her on Twitter at @MelanieLisa