Federal officials lambasted Alpha Natural Resources restructuring plan in court documents filed Tuesday, saying the Virginia-based firms proposal lacked sufficient details and was more akin to a liquidation.
The objections of the U.S. Trustee present a hurdle in Alphas attempts to emerge from Chapter 11 protection. They come in advance of a hearing next week which will determine whether the companys plan will proceed, and amid a flurry of new developments.
A federal bankruptcy judge on Monday approved the companys request to reject labor contracts and retiree benefits for unionized employees. The move is expected to save the company $60 mi…
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