Patriot Coal (PCXCQ.OB) has requested court permission to modify $1.6B in retiree health...

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

Patriot Coal (PCXCQ.OB) has requested court permission to modify $1.6B in retiree health benefits for thousands of employees as part of its strategy to exit Chapter 11. The miner wants to cut wages and other worker benefits as well. Patriot has also sued Peabody Energy (BTU), from which it was spun off five years ago," to ensure that Peabody continues fulfilling its "healthcare obligations to certain retirees." (PR)