Union workers try long shot lawsuit to save pensions

Retirees and current mineworkers of the bankruptcy Patriot Coal Corp are not giving up in their fight to protect benefits and pensions. Attorneys for the embattled United Mine Workers of America have filed a lawsuit against Peabody Energy Corp. Peabody was the parent corporation of the bankrupt Patriot, which was spun off in 2007. Attorneys will argue that if Patriot cannot pay the pensions and benefits, that Peabody should be responsible because it knew that Patriot would fail. If they win, this could result in many changes to how businesses spin off or dispose of assets.

For more details read, “U.S. miners’ union charts new course to save benefits in bankruptcy.

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