Patriot Coal Secures Funding For Ch 11. Exit

Law360, New York (October 10, 2013, 2:33 PM EDT) -- Patriot Coal Corp. will exit bankruptcy by year's end, thanks to a sponsorship from Knighthead Capital Management LLC and a settlement with its parent Peabody Energy Corp., which will provide funding for Patriot’s union retiree benefits, according to statements filed Wednesday in Missouri federal bankruptcy court.

In a disclosure statement and an amended plan of reorganization filed in the Eastern District of Missouri, Patriot outlined its plans to emerge from Chapter 11 by the end of 2013 with an infusion of $250 million in new capital...
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