Tennessee Coal Mining Company Files for Bankruptcy
Mission Coal is the second coal company that has filed for bankruptcy during the Trump presidency. Mission Coal has mines in West Virginia and one in Alabama.
The Chapter 11 bankruptcy was filed as a result of $175 million in debt and with little cash reserves at $55,000. A couple of weeks ago I wrote about Westmoreland Coal from Colorado that had also filed for bankruptcy and is one of the oldest coal companies in the country.
It is predicted that within twelve years, one quarter of the coal plants in the United States will shut down.
With more than 800 workers, salary and pension funds will be affected due to the bankruptcy.
Alexander Hernandez, Esq.
Westmoreland which has mines located in Montana, Wyoming, New Mexico, Ohio, North Dakota, Texas, and a coal-fired power plant in North Carolina, has filed for bankruptcy.
Prior posts and pages regarding bankruptcies available below.
Alexander Hernandez has been representing clients since 1999 in the areas of bankruptcy, family law, and personal injury.
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