Patriot Coal Set for Court Fight To Terminate Benefits for Miners, Retirees

NASDAQ.com reported that the court case for Patriot Coal to remove itself from obligations to its unionized miners and retirees is set to begin next week.

As quoted in the market report:

The coal-mining company is specifically proposing to terminate its retirees’ current benefits at the start of next year. A trust would be created to administer their benefits, funded by up to $300 million in future profit-sharing contributions and royalty payments tied to mine production.

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