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The causes of the protest stemmed from the 2019 bankruptcy of Blackjewel Coal, a coal mining company that operated a mine in the county. Following the company's bankruptcy, former coal miners did not receive payment for several weeks of work, leading to many miners protesting by blocking a coal train on tracks in the county.
The causes of the protest stemmed from the 2019 bankruptcy of Blackjewel Coal, a coal mining company that operated a mine in the county. Following the company's bankruptcy, former coal miners did not receive payment for several weeks of work, leading to many miners protesting by blocking a coal train on tracks in the county.
By January 2016, more than 25% of coal production was in bankruptcy in the United States [6] including the top two producers Peabody Energy [7] [8] and Arch Coal. [6] [9] When Arch Coal filed for bankruptcy protection, the price of coal had dropped 50% since 2011 [10] and it was $4.5 billion in debt.
Peabody Energy announced today it had come to terms with Patriot Coal and the United Mine Workers of America to reach a settlement with retirees following the bankruptcy of Patriot. Patriot sought ...
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Patriot Coal (PCXCQ) is using bankruptcy protection to get its house in order. Now that it's getting ready to exit that protective cushion, its competitors and partners are breathing a little easier.
A deal was ultimately reached for the company to sell three of its casinos (Las Vegas, Tunica, and Black Hawk) to Indiana-based Majestic Star Casino for $149 million, and for bondholders to forgive much of the company's remaining $205 million in public debt. [35] The plan was filed in December 2000 as a prepackaged bankruptcy case. [35]
Patriot Coal, the owner of the mine at the time, announced its bankruptcy in 2012, resulting in the loss of health benefits for the miners. [4] The company cited competition from natural gas, a weak economy, and regulations as the main factors of their bankruptcy. Patriot obtained bankruptcy financing and advice in order to survive. [13]