Patriot Coal Wants Out Of Sales Deals With Parent

Law360, New York (September 21, 2012, 4:25 PM EDT) -- Patriot Coal Corp. asked a New York bankruptcy court Thursday for permission to let a fellow Arch Coal Inc. spinoff out of an agreement it had reached with their parent company in 2005, saying this would save it tens of millions of dollars.

Patriot seeks the rejection of a so-called master coal sales and services agreement, or MSA, Arch had reached with Magnum Coal Co., a fellow spinoff unit and debtor in the bankruptcy case. Patriot said scrapping the deal would benefit the debtors more than...
To view the full article, register now.