A judge in Richmond, VA approved coal giant Alpha Natural Resources’ plan to get out of bankruptcy. The approval went through, in part, because Alpha agreed to put up real financial assurances to cover future reclamation costs, which totaled hundreds of millions of dollars.
On Monday, a bankruptcy court judge approved Alpha Natural Resource’s request to cancel labor agreements and reduce retiree benefits for unionized workers.
Bankrupt coal company Alpha Natural Resources confirmed that it laid off 37 employees today from its two Powder River Basin coal mines.
Alpha Natural Resources is asking a bankruptcy judge for permission to cancel certain labor union agreements and to cut retiree benefits.
Bankrupt coal miner Alpha Natural Resources is hoping to put its core assets on the auction block, including its mines in Wyoming.
The federal government has come out strongly against a proposal by bankrupt coal miner Alpha Natural Resources to pay its executives up to $12 million in bonuses.