Largest private US coal mining company files for bankruptcy

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Largest private US coal mining company files for bankruptcy

Stephanie Sundier | U. Pittsburgh School of Law, US

November 1, 2019 11:23:53 am

The nation’s biggest private coal mining company, Murray Energy Holdings Co., and 98 affiliated debtors on Tuesday filed voluntary petitions for Chapter 11 Bankruptcy with the Southern District of Ohio, Western Division.

The company had entered into forbearance agreements on October 2 to hold outstanding loans under Superpriority Credit and Guaranty Agreement, with the forbearance due to terminate on October 28.

President and CEO Bob Murray is a noted Trump campaign donor who has advocated on behalf of the US coal industry. This bankruptcy filing follows continued attempts by the Trump administration to reverse environmental regulations and subsidize coal use in power plants.

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