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Retired miners screwed over in coal bankruptcy plan
2015-10-03 14:00:00| Climate Ark Climate Change & Global Warming Newsfeed
Grist: There was plenty in the complex deal to benefit bankers, lawyers, executives, and hedge fund managers. Patriot Coal Corporation was bankrupt, but its mines would be auctioned to pay off mounting debts while financial engineering would generate enough cash to cover the cost of the proceedings. When the plan was filed in the U.S. bankruptcy court in Richmond last week, however, one group didnt come out so well: 208 retired miners, wives, and widows in southern Indiana who have no direct connection...
Tags: plan
bankruptcy
retired
coal
Category:Electronics and Electrical