First lien creditors agreed to acquire substantially all assets of Westmoreland Coal Company on October 9, 2018. The transaction is subject to Bankruptcy Court approval, regulatory approvals and other customary closing conditions. The US Bankruptcy Court approved the sale of substantially all of the assets to first lien creditors on March 2, 2019. As part of the transaction Martin Purvis will take on the role of Chief Executive Officer for the emerging enterprise and David Stetson will serve as Chairman for Westmoreland Mining. Gregory Pesce of Kirkland & Ellis LLP acted as legal advisor to Westmoreland Coal Company. Centerview Partners LLC is acting as investment banker and financial advisor, Alvarez & Marsal is acting as restructuring adviser, and McKinsey Recovery & Transformation Services U.S., LLC is acting as an operational advisor to Westmoreland Coal Company. Kramer Levin Naftalis & Frankel LLP acted as legal advisor and FTI Consulting Inc. acted as financial advisor to the first lien creditors. First lien creditors completed the acquisition of substantially all assets of Westmoreland Coal Company on March 15, 2019.