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The company said the Eastern District of Kentucky for the US Bankruptcy Court approved the third amended Plan of Reorganization.

Both secured and non-priority unsecured creditors voted in favor of the plan; 80% of unsecured claims in dollar amount voted and 90% of responding lessors supported the move.

“In reaching our confirmation, we have accomplished a major goal of restructuring our company and creating a stronger Quest," president Eugene Chiaramonte Jr said.

"As we emerge, the recapitalization of Gwenco will be complete.”

Chiaramonte noted the company’s legacy debt had been restructured and its liquidity improved as its operations had stabilized.

“Our emergence also coincides with several other positive steps we have recently undertaken, which include the expansion of our board of directors, our increase in customer orders, our installation of newer and more reliable coal-producing equipment, and the retention of additional experienced operational personnel,” he noted.

“As a result of these efforts, we are now consistently producing increased amounts of coal in a more efficient manner, and we anticipate that our efficiency and production will continue to improve as we reach increased coal seams. I want to thank our customers, vendors, creditors, and stockholders for supporting the company through this challenging period."

Quest said in mid-August it was starting to see rebounding coal demand after Gwenco successfully secured a contract with a large coal production and distribution company.

While it did not release the customer’s identity, Quest said at the time that coal orders would be placed “for the foreseeable future” under the deal.

“In addition to our new account, other coal purchasers have indicated their interest in purchasing our coal. We are also encouraged by industry analyst reports that international exports, particularly to Asia, are dramatically increasing due to increased steel mill production, and that US steel producers are also showing positive signs," Chiaramonte said last month.

Quest began renovation work on the Cedar Grove and Pond Creek operations in 2008, and has retained Whitestar as the contract miner for its operations.