Third-Biggest U.S. Coal Company Files for Bankruptcy
To add insult to injury, this is from the April 2019 Stanford law review:<p>"Almost half of all the coal produced in the United States is mined by companies that have recently gone bankrupt. This Article explains how those bankruptcy proceedings have undermined federal environmental and labor laws. In particular, coal companies have used the Bankruptcy Code to evade congressionally imposed liabilities requiring that they pay lifetime health benefits to coal miners and restore land degraded by surface mining. Using financial information reported in filings to the Securities and Exchange Commission and in the companies’ reorganization agreements, we show that between 2012 and 2017, four of the largest coal companies in the United States succeeded in shedding almost $5.2 billion of environmental and retiree liabilities."<p><a href="https://www.stanfordlawreview.org/print/article/bankruptcy-as-bailout/" rel="nofollow">https://www.stanfordlawreview.org/print/article/bankruptcy-a...</a>