Patriot declared bankruptcy last year, and is now trying rid itself of one of its most important responsibilities: ensuring that the company’s retirees have are provided with pensions and healthcare. Patriot was created five years ago as a new company, spun off from coal giant Peabody.
BizJournal reported that the United Mine Workers of America on June 7th filed an appeal of a federal bankruptcy court’s ruling that granted Patriot Coal Corp.’s motion to reject collective bargaining agreements and modify retiree benefits.
On May 29th U.S Bankruptcy Mr Judge Kathy Surratt States granted Patriot’s motion on the changes.
The ruling will affect more than 23,000 retired miners and their families, according to United Mine Workers of America officials.