Law360, New York (October 24, 2012, 6:20 PM EDT) -- Peabody Energy Corp. and Arch Coal Inc. can't avoid their retirement obligations to 10,000 retired workers just because they spun off their pension plans to now-bankrupt Patriot Coal Corp., the United Mine Workers of America alleged in a class action filed Tuesday in West Virginia federal court.
The mine workers' union alleged that Peabody Energy and Arch Coal spun off some of their subsidiaries, which eventually combined into Patriot Coal, specifically to shed their burdensome retirement liabilities.
Those actions violated both the Employee Retirement Income Security...
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