Hundreds of miners from across the country protested outside of St. Louis-based Peabody Energy Tuesday.
The miners are accusing Peabody of trying to skip out on pension and healthcare benefits owed to some 10,000 retirees. In 2007 Peabody created a new company called Patriot Coal which took on much of the outstanding pension liabilities for both Peabody as well as Creve Coeur-based Arch Coal.
UMWA President Cecil Roberts says the whole deal was designed to end up in bankruptcy court: "So now Patriot is paying the obligations of two of the largest coal companies in the world and people who never worked for Patriot are asking me…how can Patriot going into bankruptcy have anything to do with my healthcare?"
Roberts says the retired miners risk losing their benefits if Patriot asks a bankruptcy judge to release it outstanding debts. Peabody spokesman Vic Svec said the matter is between the union, Patriot Coal, and a bankruptcy judge-not the court of public opinion: “This is a matter really, that is appropriately decided in the bankruptcy court. It’s between the UMWA and Patriot Coal. Peabody has lived up to its obligations.”
The bankruptcy affects more than 10,000 retirees, mostly in the states of West Virginia, Ohio, Illinois and Kentucky.
