Peabody Energy Corporation filed a motion in the US Bankruptcy Court for the sale of certain assets on January 12, 2017. The debtor seeks the Court’s approval for the sale of certain assets to Newport News Terminal Associates, LLC, the stalking horse bidder, for a purchase price of $10 million in cash plus assumption of certain liabilities pursuant to the asset purchase agreement dated January 12, 2017. The debtor’s assets include interest in Dominion Terminal Associates. Each qualified bidder must make a good faith deposit of $1 million. To qualify as a qualified bidder, interested parties should submit their bids by March 2, 2017. The initial minimum overbid should be at least $0.45 million more than the initial purchase price. The debtor has scheduled an auction on March 6, 2017. At the auction, the subsequent bids would be in increments of $0.1 million. The stalking horse bidder would be entitled to a break-up fee of $0.2 million and expense reimbursement of $0.15 million in case of termination of the asset purchase agreement. The sale hearing is scheduled for March 9, 2017. Blackhawk Mining, LLC acted as advisors to the buyer.