Thanks to cheap natural gas, regulatory pressures and an increasingly diversified energy market, the U.S. coal industry is suffering its worst downturn in decades. More than three dozen coal companies have declared bankruptcy since 2012, and the situation has gotten so bad for coal workers that presidential candidate Hillary Clinton proposed a $30 billion aid plan earlier this month.
The coal companies face a particular challenge in navigating Chapter 11: Unlike other bankrupt businesses whose assets can be bought and repurposed by other industries, the mining companies’ chief holdings are their mines. Without sufficient demand for new coal, those mines—especially if they’re depleted or saddled with environmental concerns—are a tough sell.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]