Walter Energy Enters Chapter 11 Amid Drop in Coal Prices

Walter Energy Inc. filed for chapter 11 bankruptcy protection after agreeing on a fast-track restructuring process. 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, Alpha Natural Resources Inc. is in talks to get financing for a possible bankruptcy.

DBR has an update on Sabine Oil & Gas. Corp.’s chapter 11 filing via WSJ.

Sen. Charles Scuhmer (D., N.Y.) is looking for support from Republicans on legislation that would let Puerto Rico’s municipalities file for bankruptcy, Bloomberg reports.

According to Real Time Economics, Federal Reserve Chairwoman Janet Yellen said the central bank shouldn’t step in on Puerto Rico’s debt crisis.

San Berardino County, Calif., might outsource its fire department, the Sun reports.

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