Bluefield Daily Telegraph, Bluefield, WV

Virginia State News

April 10, 2014

Judge: James River Coal operations can go on

RICHMOND, Va. — James River Coal Co. is being allowed to continue its business operations while the company is under Chapter 11 bankruptcy protection.

A federal bankruptcy court judge on Wednesday approved numerous motions for the Richmond, Va.-based company.

The court ruled that James River can continue to pay wages, salaries and benefits to its more than 1,200 employees and maintain contracts and relationships with shippers and vendors.

The Richmond Times-Dispatch reports that the court also approved $110 million in financing to keep the company’s operations rolling during the restructuring process.

James River filed for bankruptcy protection Monday. It says it faces challenges from the weak economy, environmental regulations and competition from natural gas.

The company mines coal used to produce steel and for power generation in Kentucky, West Virginia and Indiana.

1
Text Only
Virginia State News
West Virginia State News
AP Video
Netanyahu Vows to Destroy Hamas Tunnels Obama Slams Republicans Over Lawsuit House Leaders Trade Blame for Inaction Malaysian PM: Stop Fighting in Ukraine Cantor Warns of Instability, Terror in Farewell Ravens' Ray Rice: 'I Made a Huge Mistake' Florida Panther Rebound Upsets Ranchers Small Plane Crash in San Diego Parking Lot Busy Franco's Not Afraid of Overexposure Fighting Blocks Access to Ukraine Crash Site Dangerous Bacteria Kills One in Florida Workers Dig for Survivors After India Landslide Texas Scientists Study Ebola Virus Smartphone Powered Paper Plane Debuts at Airshow Southern Accent Reduction Class Cancelled in TN
Sister Newspapers' News