The US Bankruptcy Court gave an order approving the sale of substantially all the assets of Cloud Peak Energy Inc. on October 2, 2019. The debtor has been authorized to sell substantially all its assets to Navajo Transitional Energy Company, LLC, the winning bidder at the auction, for a purchase price of $55.7 million, in which $15.7 million is paid in cash, $40 million in the form of senior secured note, a five-year term production royalty interest on certain tons of coal produced and sold from certain of the purchased assets and assumption of the assumed liabilities. The buyer has deposited $5.69 million as deposit upon execution of the agreement. At the auction held, Navajo Transitional Energy Company, LLC emerged as the winning bidder and Aspen Coal & Energy, LLC has been selected as the backup bidder. Nora Pincus of Parsons Behle & Latimer acted as legal counsel for the buyer.