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Patriot declared bankruptcy last year, and is now trying rid itself of one of its most important responsibilities: ensuring that the company’s retirees have are provided with pensions and healthcare. Patriot was created five years ago as a new company, spun off from coal giant Peabody.
BizJournal reported that the United Mine Workers of America on June 7th filed an appeal of a federal bankruptcy court’s ruling that granted Patriot Coal Corp.’s motion to reject collective bargaining agreements and modify retiree benefits.
On May 29th U.S Bankruptcy Mr Judge Kathy Surratt States granted Patriot’s motion on the changes.
The ruling will affect more than 23,000 retired miners and their families, according to United Mine Workers of America officials.
More at Coal Guru
The ship was to dock in Gisborne to load logs, and was scheduled to come in when the loading of the log boat now alongside the wharf was completed.The bulk carrier New Giant sits out in Poverty Bay with an uncertain future after its Asian owners went into receivership last week.
Eastland Group chief executive Matt Todd said they have been told the owners, South Korean shipping company STX, were under some level of financial stress and were put into receivership.
“There is a chance the vessel could be held on behalf of the creditors . . . ‘arrested’ is the terminology,” Mr Todd said.
“It could have a writ nailed to its mast.”
More at the Gisborne Herald
Source: St Louis Post-dispatch
Source: Boston Globe
Source: Labor Notes
Source: Village News
Source: First Things
Source: MPR
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