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  • Bloomberglast year

    Walter Energy Judge Warns Mine Workers May Lose Everything

    A union lawyer negotiating with Walter Energy Inc. said miners would rather gamble jobs at the bankrupt coal producer than make additional concessions, a stance the judge called “a game of chicken.”

  • Reuterslast year

    Bankrupt Walter Energy set to auction U.S. coal assets

    Bankrupt Walter Energy Inc received court approval on Tuesday to auction its coal assets as part of a proposal to emerge from bankruptcy that has faced fierce opposition from unions and retirees in its home state of Alabama. Walter Energy is one of four debt-laden U.S. coal producers that have sought Chapter 11 protection this year as plummeting commodity prices, weak demand and increased environmental regulation hurt operations. To appease lenders' demands for the sale, Walter Energy has asked for court approval to reject collective bargaining agreements for more than 800 union workers and terminate retirement benefits for some 3,000 retirees.

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