Judge Approves Patriot's Bid to Discard Retirees' Health Plan

A federal bankruptcy judge approved Patriot Coal's bid to cut retirees' health care benefits and place the company's health plan under a union trust on Wednesday.U.S. Bankruptcy Judge Kathy A. Surratt-States ruled that Patriot Coal may replace its health care benefits plan for retirees with a trust, which will result in severe benefit cuts for the company's retired miners. The miners are represented by the United Mine Workers of America. Surratt-States' 102-page decision also allows the St. Louis-based coal company to void other parts of its collective-bargaining agreement ...