Patriot Coal’s Buyer, Union Are Urged to Continue Talks
Source: WSJ
By JACQUELINE PALANK
A bankruptcy judge on Tuesday “strongly” recommended that Patriot Coal Corp.’s would-be buyer and the union representing its miners head back to the bargaining table one last time to try to reach a deal on the miners’ future employment.
After presiding over a four-hour trial, Judge Keith Phillips of the U.S. Bankruptcy Court in Richmond, Va., declined to rule on Patriot’s request to reject the collective bargaining agreements with the United Mine Workers of America union.
Patriot has warned that its pending sale to Blackhawk Mining LLC---and the ultimate survival of its business---depends on its ability to shed the agreements, though the union says Patriot hasn’t made a good-faith effort to negotiate new deals.
“Based on what I’ve heard today, I think there [are] arguments to be made from both sides,” the judge said.
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Read more: http://www.wsj.com/articles/patriot-coals-buyer-union-are-urged-to-continue-talks-1441137502