MIRA
INFORM REPORT
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Report Date : |
11.02.2012 |
IDENTIFICATION DETAILS
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Name : |
APPALACHIA HOLDING COMPANY |
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Registered Office : |
4 N 4th St, Richmond, VA 23219, |
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Country : |
United States |
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Date of Incorporation : |
1920 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Not Available |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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Status : |
In Process of Dissolution |
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Payment Behaviour : |
--- |
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Litigation : |
--- |
NOTES :
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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United States |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
GEOPOLITICS - UNITED STATES
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POLITICAL DATA |
ECONOMIC DATA |
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Form of Government: Federal
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Currency: USD |
IDENTIFICATION
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Ordered as: |
Massey Coal Export Company |
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Address in the order: |
4 North 4th Street Richmond VA 23219 |
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Comments on data supplied: |
Please notice that the company has had many different names along its
history. |
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Legal Name: |
Appalachia Holding Company |
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Trade Name: |
Massey Coal Export Company |
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Legal Address |
4 N 4th St, Richmond, VA 23219, USA. |
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Operative Address |
4 N 4th St, Richmond, VA 23219, USA. (no longer operating here) |
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Telephone: |
- |
ID : |
00204057 |
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Fax: |
- |
Legal Form: |
Corporation for Profit |
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Email: |
- |
Registered in: |
Virginia |
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Website: |
- |
Date Created: |
1920 |
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Manager: |
- |
Date Incorporated: |
July 10th. 1920 |
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Staff: |
- |
Stock: |
NA |
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Value: |
NA |
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Activity: |
- |
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BUSINESS
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HISTORY |
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The company was founded in 1920. We found the following very significant Press Releases: St. Louis Jury Awards $320 Million in Punitive Damages in the Lawsuit against
Fluor Corporation, A. T. Massey Coal Company, Inc. and Doe Run Investment
Holding Co 07/29/2011: A St. Louis jury has awarded $320 million in punitive damages in the
lawsuit against the former owners of a lead smelter in the eastern Missouri
town of Herculaneum. The jury awarded the punitive damages on July 29, a day
after awarding $38.5 million in compensatory damages for health problems and
lost lifetime income. The lawsuit was filed on behalf of 16 residents of
Herculaneum and named Fluor Corp., A. T. Massey Coal Company, Inc. and Doe
Run Investment Holding Co. The holding company is not affiliated with The Doe
Run Co., the present owner of the smelter. The suit focused on the period of
1986 to 1994. HDI-Gerling Industrie Versicherung AG Wins Lawsuit against Massey
Energy Co., A. T. Massey Coal Company, Inc and Central West Virginia Energy
Co 09/27/2010: HDI-Gerling Industrie Versicherung AG has asked a federal court to
force Massey Energy Co. and two of its subsidiaries to accept a recent arbitration
ruling. Gerling filed an action on September 9, 2010 in the U.S. District
Court for the Southern District of New York against Massey Energy Co., A. T.
Massey Coal Company, Inc. and Central West Virginia Energy Co. On September
8, 2010 an arbitration panel working under New York commercial law rendered
an award in favor of Gerling in an arbitration case that began in November
2008. The dispute stems from a liability insurance policy offered by Gerling
under which Massey sought coverage over a $244 million judgment levied
against it by a county court in West Virginia in a dispute over missed coal
deliveries to the Follansbee coke plant in West Virginia that is controlled
by steelmaker OAO Severstal. Massey paid off that award to Severstal in late
2008, and then sought insurance reimbursement from Gerling. Massey gave up
and paid out to Severstal after the U.S. Supreme Court refused to take up its
appeal of rulings out of the West Virginia court system. Note that the amount
of that lawsuit award has varied over time due to factors such as when
interest was accrued and added to the total, with $244 million figure used by
Gerling in the September 9, 2010 court filing. Gerling told the arbitration
panel it had no mandate to indemnify Massey in this matter under the
liability insuran |
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PRINCIPAL ACTIVITY |
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Dear client, Your order was on: Massey Coal Export Company 4 North 4th Street Richmond VA 23219 The name provided in your order used to be the DBA of "MASSEY
COAL COMPANY INC", afterwards changed to "Appalachia Holding
Company". This last company is still incorporated and Active in the Secretary of
State of Virginia. Its ID is 00204057. The person contacted at the last telephone number related to the
company told us that Massey and Appalachia do not exist, nor operate,
anymore. They are still legally "Active" because they are in the
process of closing and dissolution. Actually, at the address provided there is a totally different company
by the name of "Alpha Natural Resources". The person contacted at
this company told us that she was not allowed to to give us any further
details. No business relationship is adviced. |
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Legal Fillings |
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There are several UCC files listed
with the Secretary of State of Virginia. There are serious legal filings listed with the District Court. For information: The Uniform Commercial Code (UCC) is one of a number of uniform acts
that have been promulgated in conjunction with efforts to harmonize the law
of sales and other commercial transactions in all 50 states within the United
States of America. The UCC deals primarily with transactions involving personal property
(movable property), not real property (immovable property). It allows a creditor to notify other creditors about a debtor’s assets
used as collateral for a secured transaction by filing a public notice
(financing statement) with a particular filing office. The Uniform Commercial Code Bureau files and maintains on financial
obligations (including IRS liens) incurred by individuals (in business as a
sole proprietor), business entities and corporations. |
Rating
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Local credit bureau did not rate this company. |
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Final Opinion |
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The company is no longer in existence. The subject has recently lost two very important lawsuits and was
acquired. No credit cooperation is advised. |
SUMMARY
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Profitability |
N.A. |
Public Records |
NO |
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Indebtedness |
N.A. |
Payments |
N.A. |
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Cash |
N.A. |
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APPENDIX
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Person Interviewed |
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Female Receptionist. |
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Comments |
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We contacted her at the last headquarters telephone number of the subject:
+1 (804)-788-1800. She explained us the latest situation of Massey. She also said she works for Alpha Natural Resources and her company
does not allow her to give any further information. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.64 |
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|
1 |
Rs.78.35 |
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Euro |
1 |
Rs.65.79 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
NB |
New Business |
-- |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.