Alpha's Bankruptcy Plan Heads to Federal Court

(Gillette, Wyo.) Westmoreland and Fayette Counties in Pennsylvania, near Pittsburgh, will surrender 53 million tons of coal reserves to environmental groups, as part of Alpha Natural Reasource's bankruptcy plan, reports the Pittsburgh Post-Gazette . The coal reserves will be donated to a non-profit to protect them from "ever being mined and burned." Alpha will also have to pay $7.5 million to help with reclamation in the Upper Freeport coal stream in Pennsylvania, where they still hold 2400 acres of property they are hoping to sell as part of their financial restructuring. The rest of Alpha's reorganization plan involves splitting their assets to give "Contura Energy Inc." control of their remaining federal coal leases. The Department of Justice opposes this plan for multiple reasons, not least of which is because it jeopardizes lawsuits against the company by families who claim their homes and property were damaged by local mining operations. Alpha is set to appear before a federal judge on Thursday. If approved, the company will move towards ending their bankruptcy. You can read more here . #county17 #news