Bankrupt Patriot Coal (PCXCQ.OB) wins court approval of a proposal that will reduce pensions and...

|About: Patriot Coal Corp. (PCXCQ)|By:, SA News Editor

Bankrupt Patriot Coal (PCXCQ.OB) wins court approval of a proposal that will reduce pensions and benefits to unionized workers and retirees. The judge, who recently approved bonuses for Patriot executives, overrules objections of unfairness from the unions and sides with the company's claims that it would be forced to liquidate without relief from its retiree costs.