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WHITESBURGH, Ky. (OVR) — The convoluted bankruptcy of coal company Blackjewel has hit another turn of events as the company’s former CEO moved to liquidate the company. A federal judge is considering a motion submitted last week to convert the bankruptcy from Chapter 11 to Chapter 7. That would mean that instead of exiting bankruptcy… Read More
Environmental advocates worry a coal company liquidation plan will leave dozens of coal permits in eastern Kentucky unreclaimed, according to filings in the bankruptcy proceedings of Blackjewel L.L.C. The bankruptcy case has dragged on since last July, when the once-mighty coal company’s Chapter 11 filing left hundreds of Appalachian coal miners suddenly without work, and without… Read More
ST. CLAIRSVILLE, Ohio (OVR) — Coal mining giant Murray Energy Corp. has emerged from bankruptcy with a new name and a commitment to rehire all of its former union employees, according to a news release from the United Mine Workers of America. UMWA President Cecil Roberts said on Wednesday that a new collective bargaining agreement has… Read More
CASPER, Wyo. (OVR) — A proposed $17.3 million settlement of a class action lawsuit would provide additional payment for hundreds of Appalachian coal miners who were suddenly left jobless by the abrupt bankruptcy of the Blackjewel mining company. The settlement must be approved by the judge overseeing the complicated Blackjewel bankruptcy case. Although it is not… Read More
The Boy Scouts of America has $1.4 billion in assets. The organization says it will use the Chapter 11 process to create a trust to provide compensation for victims.
Murray Energy Corp., the largest underground coal mining company in America with a substantial footprint across the Ohio Valley, has filed for bankruptcy protection. “Although a bankruptcy filing is not an easy decision, it became necessary to access liquidity and best position Murray Energy and its affiliates for the future of our employees and customers… Read More
The bankruptcy follows the Sackler family, which owns Purdue, agreeing to surrender control of the company and offering $3 billion in cash to opioid-hit communities.
HUNTINGTON, W.Va. (AP) — A federal hearing adjourned Thursday without a decision on a bidding process proposed for mines owned by a bankrupt West Virginia-based coal company. U.S. Bankruptcy Judge Frank Volk told the parties in federal court in Huntington the emergency hearing would resume Friday morning in Charleston. Volk heard nearly two hours of… Read More