Tag: U.S. Bankruptcy Court

Alpha Founder, Others Object to Benefits Termination

Alpha Natural Resources founder, chairman and CEO Michael J. Quillen and other retirees are objecting to the coal operator’s plan to terminate their health care and other benefits.

In a Tuesday filing, the retirees say they haven’t been provided sufficient time to analyze Alpha’s plan and respond. They asked the U.S. Bankruptcy Court in Richmond on Tuesday to delay a Nov. 17 hearing.

Bristol, Virginia-based Alpha asked the court on Nov. 3 to allow it to terminate the non-pension benefits of more than 4,500 non-union retirees, eligible spouses and dependents.

Quillen says in a news release that eliminating the benefits “goes against the values the company was built on.”

Alpha filed for Chapter 11 bankruptcy on Aug. 3. The company has operations in Virginia, West Virginia, Kentucky, Pennsylvania and Wyoming.

Patriot Coal Expects to Lay Off More Than 1,000 Workers

Patriot Coal expects to lay off more than 1,000 workers at six operations in Kanawha County.

Kanawha County Commission President Kent Carper says he received layoff warning notices from Patriot on Tuesday morning.

The layoffs include 483 at Speed Mining LLC in Dawes, 248 at Wildcat Energy in Eskdale, 161 at Midland Trail Energy, 118 at Remington LLC in Eskdale and six at Little Creek Dock in Charleston.

The layoffs are expected to occur between Oct. 22 and Nov. 5.

Patriot says the notices are conditional because it doesn’t yet know who will purchase some of its assets or what the purchaser’s hiring plans will be.

Patriot filed for Chapter 11 bankruptcy in May. A hearing was scheduled Tuesday in U.S. Bankruptcy Court in Richmond, Virginia, on Patriot’s reorganization plan.

Judge Says He'll Sign Off on Patriot Coal Asset Sale

A bankruptcy judge says Patriot Coal can sell its remaining assets at auction.

The Wall Street Journal reports that U.S. Bankruptcy Judge Keith Phillips said on Monday at a hearing in Richmond that he would sign off on Patriot holding an auction on Sept. 9. The bidding would be led off by the Virginia Conservation Legacy Fund.

Patriot announced earlier this month that it planned to sell some assets to an affiliate of the nonprofit. The assets include the Federal Mining Complex in northern West Virginia. The nonprofit also would acquire other mining permits for purposes of water quality improvement and reclamation.

Lexington, Kentucky-based Blackhawk Mining announced in June that it planned to acquire the majority of Patriot’s mining operations. Rival bids are due Friday.

State Officials Object to Patriot Bankruptcy Plan

West Virginia environmental regulators say Patriot Coal’s bankruptcy plan would leave the company with no assets to cover hundreds of millions of dollars in mine pollution cleanup.

In a Monday filing in U.S. Bankruptcy Court in Virginia, attorneys for the Department of Environmental Protection wrote that Patriot’s plan would expose people to public health and safety risks.

Patriot wants to close a proposed partial sale to Lexington, Kentucky-based Blackhawk Mining LLC.

DEP attorneys said the plan appears to favor New York hedge funds and leave little to no ability for Patriot to pay to reclaim land and treat acid mine drainage and other water pollution.

The plan also is opposed by the United Mine Workers of America because Patriot wants a judge to reject its collective bargaining agreement.

Bankruptcy Judge Looks to Ok Deal in Spill Case

A judge says he’s looking to approve a $2.5 million bankruptcy deal involving the company behind a massive chemical spill last year.

In Charleston federal bankruptcy court Wednesday, Judge Ronald Pearson spoke favorably of the plan pushed by Freedom Industries, the state Department of Environmental Protection and creditors.

The plan says Freedom parent company Chemstream Holdings would add $1.1 million to clean up the Charleston spill site.

Freedom would contribute $1.4 million.

Previously, Freedom proposed only $150,000 for additional cleanup, which Pearson rejected.

The January 2014 spill spurred a tap-water ban for 300,000 people for days.

Pearson said his approval awaits the change of cleanup contractors at the spill site and related deadline extensions in the settlement.

The agreement says DEP can’t sue Chemstream for the spill or cleanup.

Freedom Industries Reaches Deal on Spill Cleanup

The company behind a massive chemical spill last year has reached a $2.5 million deal with regulators for cleaning up its contaminated site.

The Charleston Gazette reports Freedom Industries released the plan in a filing Tuesday in U.S. Bankruptcy Court in Charleston.

It says Freedom parent company Chemstream Holdings would add $1.1 million to clean the Charleston spill site.

Freedom would contribute $1.4 million.

Previously, Freedom proposed $150,000 for additional cleanup, which a judge rejected.

The January 2014 spill spurred a tap-water ban for 300,000 people for days.

Department of Environmental Protection Secretary Randy Huffman told the Gazette he thinks $2.5 million will be more than adequate. He said there’s no exact estimate yet on cleanup costs.

The agreement says Freedom can’t sue Chemstream for the spill or cleanup.

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