Creditors Of Bankrupt Patriot Coal Seek Redress From Former Parent Peabody Coal
In 2007, it was all smiles as Peabody Energy(BTU) spun off Patriot Coal(PCXCQ). But loaded with debt and retiree health and pension obligations, Patriot filed for bankruptcy in July 2012. Now, Patriot and its creditors, led by the United Mine Workers of America, are investigating whether the spinoff was a fraudulent transfer which might give Peabody back the… Read More »