America’s Largest Underground Coal Miner Murrey Energy Bankruptcy Looms

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Murray Energy bankrupt, files for Chapter 11

Employs 7000 people and will continue to operate in a restructuring of more than $2.7 billion of debt after a fresh $350m loan. Along with the parent company, nearly 100 affiliates also filed for Chapter 11.

Murray Energy, the largest coal company in the United States, filed for bankruptcy. If Murray rejects the UMWA pension plan obligations in Chapter 11 bankruptcy, the UMWA pension fund will be insolvent by 2020. Before last night it was projected to be insolvent by 2022.

Senator Joe Manchin
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