Murray Energy Gets OK For Ch. 11 Pension Settlement

By Rick Archer (May 13, 2020, 5:42 PM EDT) -- An Ohio bankruptcy judge on Wednesday approved a deal for coal miner Murray Energy to hand off millions in retirement benefit liabilities to a union pension fund, saying the settlement is necessary to move Murray's Chapter 11 case forward.

U.S. Bankruptcy Judge John Hoffman dismissed objections raised by another coal company facing some of those same liabilities, saying in an opinion that the deal between Murray, its retirees and the United Mine Workers' pension fund is a necessary part of Murray's $1.2 billion asset sale.

"In the end, it is clear that the settlement is fair and equitable and in the...

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