304 SPORTS SCORES
  • Tygarts Valley 59Hannan 8Final[ view all ]
  • Sissonville 26Liberty 7Final[ view all ]
  • Doddridge County 27Valley Wetzel 7Final[ view all ]
  • Clay-Battelle 20Van 12Final[ view all ]
  • Lewis County 42Elkins 0Final[ view all ]
  • Braxton County 13Webster County 12Final[ view all ]
  • Grafton 50Lincoln 49Final[ view all ]
  • Robert C. Byrd 56North Marion 21Final[ view all ]
  • Morgantown 21John Marshall 6Final[ view all ]
  • Pendleton County 50Tucker County 6Final[ view all ]
  • Magnolia 34Tyler Consolidated 0Final[ view all ]
  • University 29Preston 25Final[ view all ]
  • Fairmont Senior 35Buckhannon-Upshur 27Final[ view all ]
  • Notre Dame 34Gilmer County 13Final[ view all ]
  • Saint Marys 42South Harrison 7Final[ view all ]
National News | Closings | Funerals | HighScore | Monday's Most Wanted | Crime Watch | TV Listings | Lottery | Bio's | FCC File | More ›
   
 
 
 
Peabody Reaches Deal Over Patriot Retiree Benefits
Written by Your 5News Team
Last updated on October 10, 2013 @ 6:14PM
Created on October 10, 2013 @ 10:49AM

 ST. LOUIS (AP) - Coal producer Peabody Energy Corp. says it will pay hundreds of millions of dollars to settle a drawn-out legal dispute over health care and pension benefits for thousands of retirees who worked for bankrupt Peabody spinoff Patriot Coal Corp.
    
The St. Louis-based companies and the United Mine Workers of America union announced the deal late Wednesday. It will be submitted for consideration to a St. Louis federal bankruptcy judge overseeing Patriot's bankruptcy.
    
As part of the deal, Peabody will pay $310 million over four years to fund the health and pension benefits to settle all claims by Patriot and the miners' union.
    
Peabody also will provide about $140 million in letters of credit to Patriot, which expects to emerge from Chapter 11 bankruptcy by the end of this year.

(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)


Share
Add your Comment
You must have an active WDTV.COM user account to post comments. Please login to your account, or create your free account today!

Comments (0)
WDTV on Facebook
WDTV on Twitter
WDTV on YouTube
Contact WDTV
WDTV RSS Feeds
WDTV SMS
WDTV Mobile App