Patriot Coal Close To Deal With Miners Union

Law360, Chicago (July 2, 2013, 5:45 PM EDT) -- Patriot Coal Corp. said Tuesday that it has made “substantial progress” toward a deal with its miners’ union on a slate of benefit cuts and wage reductions, which it contends are necessary to return the company to profitability and escape bankruptcy.

Last month, a Missouri bankruptcy judge cleared Patriot to reject its contract with the United Mine Workers of America and impose the cuts unilaterally. Patriot began carrying out wage and benefit changes for active employees on Monday, “but chose to implement terms that are significantly...
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