- 24/7 Wall St.•8 months ago
Bankrupt coal miners Alpha Natural Resources Inc. (NYSE: ANR) and Walter Energy Inc. (NYSE: WLT) are both scheduled to hold auctions in the coming week as they try to raise capital by selling assets. If ...
- Reuters•9 months ago
A federal judge granted approval for coal producer Walter Energy Inc to reject its labor agreements and end retiree benefits, which the bankrupt U.S. company said was needed in order to sell off its operations, given the industry's dire straits. U.S. Bankruptcy Judge Tamara Mitchell said in a 57-page opinion published on Monday that Walter's situation would go from bad to worse if it had to maintain its collective bargaining agreements and retiree benefits. "The court finds credible that no potential buyers have an interest in assuming such obligations, let alone assuming such obligations and investing such new capital," said Mitchell of the U.S. Bankruptcy Court for the Northern District of Alabama.
Walter Energy, Inc. Common Stoc (WLT)
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