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In 2019, Blackjewel, LLC, a subsidiary of Revelation Energy, was one of the largest coal operators in the country. [1] On July 1, 2019, Blackjewel Coal filed for bankruptcy, [2] leading to the abrupt firing of about 1,700 miners in Kentucky, Virginia, West Virginia, and Wyoming. [3] [4] 200 miners in Harlan County were affected. [5]
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.
Letters to the Editor: Mines are supposed to clean up their environmental mess and pay into the black lung fund. But who ensures they will?
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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Pre-packaged plans of reorganization virtually always impair (i.e. pay less than in full) one or more classes of creditors, and so in order to ensure that the plan can be confirmed by the bankruptcy court, the plan proponents must secure the support of at least two-thirds in amount and more than one-half in number of at least one such impaired ...
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.