Three units of PT Bumi Resources, Asia’s most-indebted coal miner, filed for creditor protection in the U.S. after failing to make a semi-annual interest payment, Bloomberg News reported. Bumi Investment Pte Ltd listed assets and debt of as much as $1 billion each in Chapter 15 papers filed today in U.S. Bankruptcy Court in Manhattan. Bumi Capital Pte and Enercoal Resources Pte also sought court protection. Companies use Chapter 15 of the Bankruptcy Code to fend off creditor claims in the U.S. while they reorganize their finances elsewhere. Bumi Investment and Jakarta-based Bumi Resources failed to make a coupon payment on $700 million of October 2017 notes last month, following a 30-day grace period. Indenture trustee Bank of New York Mellon Corp. declared a default under the notes in a Nov. 14 letter, according to court papers. The units applied under Section 210 of the Singapore Companies Act to prevent legal and enforcement action so they can facilitate discussions with noteholders. On Nov. 24, the Singapore court entered orders prohibiting the commencement or continuation of any action by any creditors for six months, according to court papers. Bumi Resources, Indonesia’s biggest thermal-coal exporter, is controlled by the Bakrie family. The court-obtained moratorium marks another chapter in efforts to contain the fallout in their mainstay coal business. Coal prices have slumped more than 50 percent since the end of 2010. Read more.