Clinton Blasts Patriot Coal Bankruptcy Plan
Sharon Edmondson, Washington Legislative Team Member | October 05, 2015
US Democratic presidential candidate, Hilary Clinton, said that a bankruptcy plan proposed by Patriot Coal Corporation is “outrageous and must be stopped” because it diverts money intended for coal miners’ retirement benefits.
Clinton stated that “ensuring healthcare and retirement security should be the first priority in a bankruptcy proceeding.” In the same comments, Clinton praised a bipartisan proposal in the Senate that would recalculate how government fees paid by mining companies are transferred to a multi-employer health benefit plan. A U.S. Bankruptcy court in Richmond, Virginia will review the Patriot Coal’s restructuring plan next week.