------------------------------
SECURITIES AND EXCHANGE COMMISSION Exhibit 25.1
WASHINGTON, D. C. 20549
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FORM T-1
STATEMENT OF ELIGIBILITY
UNDER THE TRUST INDENTURE ACT OF 1939, AS AMENDED, OF A
CORPORATION DESIGNATED TO ACT AS TRUSTEE
CHECK IF AN APPLICATION TO DETERMINE
ELIGIBILITY OF A TRUSTEE PURSUANT TO
SECTION 305 (b) (2)
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IBJ WHITEHALL BANK & TRUST COMPANY
(Exact name of trustee as specified in its charter)
New York 13-5375195
(State of Incorporation (I.R.S. Employer
if not a U.S. national bank) Identification No.)
One State Street, New York, New York 10004
(Address of principal executive offices) (Zip code)
Terence Rawlins, Assistant Vice President
IBJ Whitehall Bank & Trust Company
One State Street
New York, New York 10004
(212) 858-2000
(Name, Address and Telephone Number of Agent for Service)
AEI HOLDING COMPANY, INC.
(Exact name of co-obligor as specified in its charter)
Delaware 61-1315723
(State or jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No)
1500 NORTH BIG RUN ROAD
ASHLAND, KY 41102
(Address of principal executive office) (Zip code)
----------
AEI RESOURCES, INC.
(Exact name of co-obligor as specified in its charter)
Delaware 61-1325832
(State or jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
1500 NORTH BIG RUN ROAD
ASHLAND, KY 41102
(Address of principal executive office) (Zip code)
----------
(Title of Indenture Securities)
AEI HOLDING COMPANY, INC.*
AEI RESOURCES, INC.*
10-1/2% Senior Notes due 2005, Series A and Series B
---------------------------------
*TABLE OF ADDITIONAL REGISTRANT GUARANTORS
- --------------------------------------------------------------------------------------------------------------------
State or Other Address, including Zip
Jurisdiction of IRS Employer Code and Telephone Number
Exact Name Incorporation or Identification of Registrant Guarantor's
of Registrant Guarantor Organization Number Principal Executive Offices
- --------------------------------------------------------------------------------------------------------------------
17 West Mining (f/k/a Martiki Coal Delaware 1500 North Big Run Rd.
Corporation) Ashland, KY 41102
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Aceco, Inc. Kentucky 61-0855680 1500 North Big Run Rd.
Ashland, KY 41102
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Addington Mining, Inc. Kentucky 61-0855680 1500 North Big Run Rd.
Ashland, KY 41102
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AEI Coal Sales Company, Inc. Kentucky 61-1331912 1500 North Big Run Rd.
Ashland, KY 41102
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AEI Resources Holding, Inc. Delaware 61-1331911 1500 North Big Run Rd.
Ashland, KY 41102
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Americoal Development Company Delaware 37-1302915 1500 North Big Run Rd.
Ashland, KY 41102
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Appalachian Realty Company Kentucky 36-3336051 1500 North Big Run Rd.
Ashland, KY 41102
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2
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State or Other Address, including Zip
Jurisdiction of IRS Employer Code and Telephone Number
Exact Name Incorporation or Identification of Registrant Guarantor's
of Registrant Guarantor Organization Number Principal Executive Offices
- --------------------------------------------------------------------------------------------------------------------
Ayrshire Land Company Delaware 06-1208946 1500 North Big Run Rd.
Ashland, KY 41102
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Beech Coal Company Delaware 06-1187153 1500 North Big Run Rd.
Ashland, KY 41102
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Bellaire Trucking Company Delaware 76-0012930 1500 North Big Run Rd.
Ashland, KY 41102
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Bentley Coal Company New York 1500 North Big Run Rd.
Ashland, KY 41102
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Bluegrass Coal Development Company Delaware 76-0078312 1500 North Big Run Rd.
Ashland, KY 41102
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Bowie Resources Limited Colorado 84-1287719 1500 North Big Run Rd.
Ashland, KY 41102
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Cannelton, Inc. Delaware 55-0711787 1500 North Big Run Rd.
Ashland, KY 41102
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Cannelton Industries, Inc. West Virginia 55-0136145 1500 North Big Run Rd.
Ashland, KY 41102
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Cannelton Land Company Delaware 55-0715858 1500 North Big Run Rd.
Ashland, KY 41102
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Cannelton Sales Company Delaware 55-0677801 1500 North Big Run Rd.
Ashland, KY 41102
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CC Coal Company Kentucky 1500 North Big Run Rd.
Ashland, KY 41102
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Coal Ventures Holding Company, Inc. Delaware 61-1328606 1500 North Big Run Rd.
Ashland, KY 41102
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Dunn Coal and Dock Company West Virginia 55-0677800 1500 North Big Run Rd.
Ashland, KY 41102
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East Kentucky Energy Corporation Kentucky 54-0971896 1500 North Big Run Rd.
Ashland, KY 41102
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Employee Benefits Management, Inc. Delaware 36-4168193 1500 North Big Run Rd.
Ashland, KY 41102
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Encoal Corporation Delaware 76-0287726 1500 North Big Run Rd.
Ashland, KY 41102
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EnerZ Corporation Delaware 37-1362012 1500 North Big Run Rd.
Ashland, KY 41102
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3
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State or Other Address, including Zip
Jurisdiction of IRS Employer Code and Telephone Number
Exact Name Incorporation or Identification of Registrant Guarantor's
of Registrant Guarantor Organization Number Principal Executive Offices
- --------------------------------------------------------------------------------------------------------------------
Evergreen Mining Company West Virginia 54-1206519 1500 North Big Run Rd.
Ashland, KY 41102
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Fairview Land Company Delaware 37-1267975 1500 North Big Run Rd.
Ashland, KY 41102
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Franklin Coal Sales Company Delaware 13-3121923 1500 North Big Run Rd.
Ashland, KY 41102
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Grassy Cove Coal Mining Company Delaware 51-0274983 1500 North Big Run Rd.
Ashland, KY 41102
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Hayman Holdings, Inc. Kentucky 1500 North Big Run Rd.
Ashland, KY 41102
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Heritage Mining Company Delaware 61-1286455 1500 North Big Run Rd.
Ashland, KY 41102
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Highland Coal, Inc. Kentucky 1500 North Big Run Rd.
Ashland, KY 41102
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Ikerd-Bandy Co., Inc. Kentucky 61-0505276 1500 North Big Run Rd.
Ashland, KY 41102
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Kanawha Corporation Delaware 84-1107027 1500 North Big Run Rd.
Ashland, KY 41102
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Kentucky Prince Mining Company New York 1500 North Big Run Rd.
Ashland, KY 41102
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Kermit Coal Company West Virginia 55-0515741 1500 North Big Run Rd.
Ashland, KY 41102
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Kindill Holding, Inc. Kentucky 1500 North Big Run Rd.
Ashland, KY 41102
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Kindill Mining, Inc. Indiana 35-1962074 1500 North Big Run Rd.
Ashland, KY 41102
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Leslie Resources, Inc. Kentucky 61-1013125 1500 North Big Run Rd.
Ashland, KY 41102
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Leslie Resources Management, Inc. Kentucky 61-1292388 1500 North Big Run Rd.
Ashland, KY 41102
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Meadowlark, Inc. Indiana 35-0782260 1500 North Big Run Rd.
Ashland, KY 41102
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Mega Minerals, Inc. West Virginia 55-0720327 1500 North Big Run Rd.
Ashland, KY 41102
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4
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State or Other Address, including Zip
Jurisdiction of IRS Employer Code and Telephone Number
Exact Name Incorporation or Identification of Registrant Guarantor's
of Registrant Guarantor Organization Number Principal Executive Offices
- --------------------------------------------------------------------------------------------------------------------
Mid-Vol Leasing, Inc. West Virginia 55-0691054 1500 North Big Run Rd.
Ashland, KY 41102
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Midwest Coal Company Delaware 84-1324803 1500 North Big Run Rd.
Ashland, KY 41102
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Midwest Coal Sales Company Delaware 35-1599521 1500 North Big Run Rd.
Ashland, KY 41102
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Mining Technologies, Inc. Kentucky 61-1319730 1500 North Big Run Rd.
Ashland, KY 41102
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Mountain Coals Corporation Delaware 63-0725639 1500 North Big Run Rd.
Ashland, KY 41102
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Mountain-Clay Incorporated d/b/a Mountain Kentucky 61-0621350 1500 North Big Run Rd.
Clay, Inc. Ashland, KY 41102
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Mountaineer Coal Development Company West Virginia 54-0989613 1500 North Big Run Rd.
Ashland, KY 41102
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NuCoal LLC Delaware 36-4143611
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Old Ben Coal Company Delaware 34-1291413 1500 North Big Run Rd.
Ashland, KY 41102
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Phoenix Land Company Delaware 37-1302916 1500 North Big Run Rd.
Ashland, KY 41102
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Premium Coal Development Company Delaware 36-4186350 1500 North Big Run Rd.
Ashland, KY 41102
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Premium Processing, Inc. West Virginia 55-0750451 1500 North Big Run Rd.
Ashland, KY 41102
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Pro-Land, Inc. d/b/a Kem Coal Company Kentucky 61-0727363 1500 North Big Run Rd.
Ashland, KY 41102
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R. &. F. Coal Company Ohio 34-0832344 1500 North Big Run Rd.
Ashland, KY 41102
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River Coal Company, Inc. Kentucky 61-0567214 1500 North Big Run Rd.
Ashland, KY 41102
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Roaring Creek Coal Company Delaware 35-1597000 1500 North Big Run Rd.
Ashland, KY 41102
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Shipyard River Coal Terminal Company South Carolina 54-1156890 1500 North Big Run Rd.
Ashland, KY 41102
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Skyline Coal Company New York 1500 North Big Run Rd.
Ashland, KY 41102
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5
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State or Other Address, including Zip
Jurisdiction of IRS Employer Code and Telephone Number
Exact Name Incorporation or Identification of Registrant Guarantor's
of Registrant Guarantor Organization Number Principal Executive Offices
- --------------------------------------------------------------------------------------------------------------------
Straight Creek Coal Resources Company Kentucky 36-3317309 1500 North Big Run Rd.
Ashland, KY 41102
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Tennessee Mining, Inc. Kentucky 62-1640672 1500 North Big Run Rd.
Ashland, KY 41102
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Turris Coal Company Delaware 74-2121674 1500 North Big Run Rd.
Ashland, KY 41102
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West Virginia-Indiana Coal Holding Delaware 1500 North Big Run Rd.
Company, Inc. Ashland, KY 41102
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Wyoming Coal Technology, Inc. Wyoming 61-1336980 1500 North Big Run Rd.
Ashland, KY 41102
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Zeigler Coal Holding Company Delaware 36-3344449 1500 North Big Run Rd.
Ashland, KY 41102
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Zeigler Environmental Services Company Delaware 36-4143610 1500 North Big Run Rd.
Ashland, KY 41102
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Zenergy, Inc. Delaware 35-1870468 1500 North Big Run Rd.
Ashland, KY 41102
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Item 1. General information
Furnish the following information as to the trustee:
(a) Name and address of each examining or supervising authority to
which it is subject.
New York State Banking Department
Two Rector Street
New York, New York
Federal Deposit Insurance Corporation
Washington, D.C.
Federal Reserve Bank of New York Second District
33 Liberty Street
New York, New York
6
(b) Whether it is authorized to exercise corporate trust powers.
Yes
Item 2. Affiliations with the Obligors.
If the obligors are an affiliate of the trustee, describe each such
affiliation.
Neither obligor is an affiliate of the trustee.
Item 3. Voting securities of the trustee.
Furnish the following information as to each class of voting
securities of the trustee:
As of February 8, 1999
Col. A Col. B
Title of class Amount Outstanding
- -------------- ------------------
Not Applicable
Item 4. Trusteeships under other indentures.
If the trustee is a trustee under another indenture under which any
other securities, or certificates of interest or participation in any
other securities, of the obligors are outstanding, furnish the
following information:
(a) Title of the securities outstanding under each such other
indenture
Not Applicable
(b) A brief statement of the facts relied upon as a basis for the
claim that no conflicting interest within the meaning of Section
310 (b) (1) of the Act arises as a result of the trusteeship
under any such other indenture, including a statement as to how
the indenture securities will rank as compared with the
securities issued under such other indenture.
Not Applicable
7
Item 5. Interlocking directorates and similar relationships with the obligors
or underwriters.
If the trustee or any of the directors or executive officers of the
trustee is a director, officer, partner, employee, appointee, or
representative of the obligors or of any underwriter for the obligors,
identify each such person having any such connection and state the
nature of each such connection.
Not Applicable
Item 6. Voting securities of the trustee owned by the obligors or their
officials.
Furnish the following information as to the voting securities of the
trustee owned beneficially by the obligors and each director, partner,
and executive officer of the obligors:
As of February 8, 1999
Col. D
Col. C Percent of voting
Col. A Col. B Amount owned securities represented by
Name of Owner Title of class beneficially amount given in Col. C
- ------------- -------------- ------------ -------------------------
Not Applicable
Item 7. Voting securities of the trustee owned by underwriters or their
officials.
Furnish the following information as to the voting securities of the
trustee owned beneficially by each underwriter for the obligors and
each director, partner and executive officer of each such underwriter:
As of February 8, 1999
- ----------------------------------------------------------------------------------------------------------------------
Col. D
Col. C Percent of voting
Col. A Col. B Amount owned securities represented by
Name of Owner Title of class beneficially amount given in Col. C
- ------------- -------------- ------------ -------------------------
- ----------------------------------------------------------------------------------------------------------------------
Not Applicable
8
Item 8. Securities of the obligors owned or held by the trustee
Furnish the following information as to securities of the obligors
owned beneficially or held as collateral security for obligations in
default by the trustee:
As of February 8, 1999
- ------------------------------------------------------------------------------------------------------------------------------------
Col. C Col. D
Amount owned beneficially or Percent of voting
Col. A Col. B held as collateral security securities represented by
Name of Owner Title of class for obligations in default amount given in Col. C
- ------------- -------------- ---------------------------- -------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
Not Applicable
Item 9. Securities of underwriters owned or held by the trustee.
If the trustee owns beneficially or holds as collateral security for
obligations in default any securities of an underwriter for the
obligors, furnish the following information as to each class of
securities of such underwriter any of which are so owned or held by
the trustee:
As of February 8, 1999
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Col. C Col. D
Amount owned beneficially or Percent of voting
Col. A Col. B held as collateral security securities represented by
Name of Owner Title of class for obligations in default amount given in Col. C
- ------------- -------------- ---------------------------- -------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
Not Applicable
Item 10. Ownership or holdings by the trustee of voting securities of certain
affiliates or securityholders of the obligors.
9
If the trustee owns beneficially or holds as collateral security for
obligations in default voting securities of a person who, to the
knowledge of the trustee (1) owns 10 percent or more of the voting
securities of the obligors or (2) is an affiliate, other than a
subsidiary, of the obligors, furnish the following information as to
the voting securities of such person:
As of February 8, 1999
- ------------------------------------------------------------------------------------------------------------------------------------
Col. C Col. D
Amount owned beneficially or Percent of voting
Col. A Col. B held as collateral security securities represented by
Name of Owner Title of class for obligations in default amount given in Col. C
------------- -------------- --------------------------- -------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
Not Applicable
Item 11. Ownership or holdings by the trustee of any securities of a person
owning 50 percent or more of the voting securities of the obligors.
If the trustee owns beneficially or holds as collateral security
security for obligations in default any securities of a person who, to
the knowledge of the trustee, owns 50 percent or more of the voting
securities of the obligors, furnish the following information as to
each class of securities of such any of which are so owned or held by
the trustee:
As of February 8, 19999
- ---------------------------------------------------- ------------------------------------------- -----------------------------------
Col. A Col. B Col. C
Nature of Indebtedness Amount Outstanding Date Due
---------------------- ------------------ --------
- ---------------------------------------------------- ------------------------------------------- -----------------------------------
Not Applicable
Item 12. Indebtedness of the Obligors to the Trustee.
Except as noted in the instructions, if the obligors are indebted to
the trustee, furnish the following information:
As of February 8, 1999
10
- ---------------------------------- -------------------------------- -------------------------------- -------------------------------
Col. C
Amount owned Col. D
beneficially or held as Percent of voting
Col. A Col. B collateral security for securities represented by
Name of Owner Title of class obligations in default amount given in Col. C
------------- -------------- ----------------------- -------------------------
- ---------------------------------- -------------------------------- -------------------------------- -------------------------------
Not Applicable
Item 13. Defaults by the Obligors.
(a) State whether there is or has been a default with respect to the
securities under this indenture. Explain the nature of any such
default.
Not Applicable
(b) If the trustee is a trustee under another indenture under which
any other securities, or certificates of interest or
participation in any other securities, of the obligors are
outstanding, or is trustee for more than one outstanding series
of securities under the indenture, state whether there has been a
default under any such indenture or series, identify the
indenture or series affected, and explain the nature of any such
default.
Not Applicable
Item 14. Affiliations with the Underwriters
If any underwriter is an affiliate of the trustee, describe each such
affiliation.
Not Applicable
11
Item 15. Foreign Trustees.
Identify the order or rule pursuant to which the foreign trustee is
authorized to act as sole trustee under indentures qualified or to be
qualified under the Act.
Not Applicable
Item 16. List of Exhibits.
List below all exhibits filed as part of this statement of
eligibility.
*T1(a). A copy of the Charter of IBJ Whitehall Bank & Trust Company
as amended to date. (See Exhibit 1A to Form T-1, Securities
and Exchange Commission File No. 22-18460).
*T1(b). A copy of the Certificate of Authority of the Trustee to
Commence Business (Included in Exhibit I above).
*T1(c). A copy of the Authorization of the Trustee, as amended to
date (See Exhibit 4 to Form T-1, Securities and Exchange
Commission File No. 22-19146).
*T1(d). A copy of the existing By-Laws of the Trustee, as amended to
date (See Exhibit 4 to Form T-1, Securities and Exchange
Commission File No. 22-19146).
T1(e). A copy of each Indenture referred to in Item 4, if the
Obligors are in default. Not Applicable.
T1(f). The consent of the United States institutional trustee
required by Section 321(b) of the Act.
T1(g). A copy of the latest report of condition of the trustee
published pursuant to law or the requirements of its
supervising or examining authority.
* The Exhibits thus designated are incorporated herein by reference as
exhibits hereto. Following the description of such Exhibits is a reference
to the copy of the Exhibit heretofore filed with the Securities and
Exchange Commission, to which there have been no amendments or changes.
NOTE
----
12
In answering any item in this Statement of Eligibility which relates to matters
peculiarly within the knowledge of the obligors and their respective directors
or officers, the trustee has relied upon information furnished to it by the
obligors.
Inasmuch as this Form T-1 is filed prior to the ascertainment by the trustee of
all facts on which to base responsive answers to Item 2, the answer to said Item
are based on incomplete information.
Item 2, may, however, be considered as correct unless amended by an amendment to
this Form T-1.
Pursuant to General Instruction B, the trustee has responded to Items 1, 2 and
16 of this form since to the best knowledge of the trustee as indicated in Item
13, the obligors are not in default under any indenture under which the
applicant is trustee.
13
SIGNATURE
---------
Pursuant to the requirements of the Trust Indenture Act of 1939, as amended, the
trustee, IBJ Whitehall Bank & Trust Company, a corporation organized and
existing under the laws of the State of New York, has duly caused this statement
of eligibility & qualification to be signed on its behalf by the undersigned,
thereunto duly authorized, all in the City of New York, and State of New York,
on the 8th day of February, 1999.
IBJ WHITEHALL BANK & TRUST COMPANY
By: /s/Terence Rawlins
-----------------------------------
Terence Rawlins
Assistant Vice President
Exhibit T1(f)
CONSENT OF TRUSTEE
Pursuant to the requirements of Section 321(b) of the Trust Indenture Act of
1939, as amended, in connection with the issue by AEI Holding Company, Inc. and
AEI Resources, Inc. of their 10-1/2% Senior Notes due 2005, Series A and Series
B, we hereby consent that reports of examinations by Federal, State,
Territorial, or District authorities may be furnished by such authorities to the
Securities and Exchange Commission upon request therefor.
IBJ WHITEHALL BANK & TRUST COMPANY
By: /s/Terence Rawlins
-----------------------------------
Terence Rawlins
Assistant Vice President
Dated: As of February 8, 1999
EXHIBIT T1(g)
CONSOLIDATED REPORT OF CONDITION OF
IBJ WHITEHALL BANK & TRUST COMPANY
of New York, New York
And Foreign and Domestic Subsidiaries
Report as of September 30, 1998
Dollar Amounts
in Thousands
-------------
ASSETS
------
Cash and balance due from depository institutions:
Noninterest-bearing balances and currency and coin........................................ $ 26,852
Interest-bearing balances................................................................. $ 17,489
Securities: Held-to-maturity securities.................................................... $ -0-
Available-for-sale securities.................................................. $ 207,069
Federal funds sold and securities purchased under
agreements to resell in domestic offices of the bank
and of its Edge and Agreement subsidiaries and in IBFs:
Federal Funds sold and Securities purchased under agreements to resell.................... $ 80,389
Loans and lease financing receivables:
Loans and leases, net of unearned income.................................... $ 2,033,599
LESS: Allowance for loan and lease losses................................... $ 62,853
LESS: Allocated transfer risk reserve....................................... $ -0-
Loans and leases, net of unearned income, allowance, and reserve.......................... $ 1,970,746
Trading assets held in trading accounts....................................................... $ 848
Premises and fixed assets (including capitalized leases)...................................... $ 1,583
Other real estate owned....................................................................... $ -0-
Investments in unconsolidated subsidiaries and associated companies........................... $ -0-
Customers' liability to this bank on acceptances outstanding.................................. $ 340
Intangible assets............................................................................. $ 11,840
Other assets.................................................................................. $ 66,691
TOTAL ASSETS.................................................................................. $ 2,383,847
LIABILITIES
-----------
Deposits:
In domestic offices......................................................................... $ 804,562
Noninterest-bearing ........................................................$ 168,822
Interest-bearing ...........................................................$ 635,740
In foreign offices, Edge and Agreement subsidiaries, and IBFs............................... $ 885,076
Noninterest-bearing ........................................................$ 16,554
Interest-bearing ...........................................................$ 868,522
Federal funds purchased and securities sold under agreements to repurchase in
domestic offices of the bank and of its Edge and Agreement subsidiaries, and in
IBFs:
Federal Funds purchased and Securities sold under agreements to repurchase ................. $ 225,000
Demand notes issued to the U.S. Treasury........................................................ $ 674
Trading Liabilities............................................................................. $ 560
Other borrowed money:
a) With a remaining maturity of one year or less............................................ $ 38,002
b) With a remaining maturity of more than one year.......................................... $ 1,375
c) With a remaining maturity of more than three years....................................... $ 1,550
Bank's liability on acceptances executed and outstanding........................................ $ 340
Subordinated notes and debentures............................................................... $ 100,000
Other liabilities............................................................................... $ 74,502
TOTAL LIABILITIES............................................................................... $ 2,131,641
---------
Limited-life preferred stock and related surplus................................................ $ N/A
EQUITY CAPITAL
Perpetual preferred stock and related surplus................................................... $ -0-
Common stock.................................................................................... $ 28,958
Surplus (exclude all surplus related to preferred stock)........................................ $ 210,319
Undivided profits and capital reserves.......................................................... $ 11,655
Net unrealized gains (losses) on available-for-sale securities.................................. $ 1,274
Cumulative foreign currency translation adjustments............................................. $ -0-
TOTAL EQUITY CAPITAL............................................................................ $ 252,206
TOTAL LIABILITIES AND EQUITY CAPITAL............................................................ $ 2,383,847