Cloud Peak gets court's OK to pay taxes
A bankruptcy court judge in Delaware has cleared the path for Cloud Peak Energy Corp. to potentially pay millions of dollars in back taxes and fees.
Whether that translates to Campbell County collecting an $8.3 million payment the company missed May 10 could be unlikely, said Rob Godby director of the Center for Energy, Economics and Public Policy at the University of Wyoming.
“Does this motion mean the taxes will get paid? Not necessarily,” he said. “But it does mean that they could get paid.”
Tuesday’s ruling was part of the court’s granting a rash of motions that accompanied Cloud Peak Energy’s Chapter 11 bankruptcy filing and clears the way for the company to continue to pay vendors, employees, and taxes and fees as they come due during the course of business.
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