Murray Energy Corp. Files for Bankruptcy
From the Pittsburgh Business Times:
Murray Energy, the nation’s largest privately owned coal mining company — which owns facilities in West Virginia and Ohio — filed for Chapter 11 bankruptcy protection Tuesday.
Murray Energy, which is based in St. Clairsville, Ohio, reported between $1 billion and $10 billion in estimated liabilities and assets between $1 billion and $10 billion in the filing in the U.S. Bankruptcy Court for Southern Ohio. Its top 10 unsecured creditors have $126.9 million in claims, according to the bankruptcy filing.
Murray Energy founder Robert Murray, one of the strongest voices in the coal industry, will move from CEO to chairman. Robert D. Moore has been named president and CEO of Murray Energy and Murray Energy Corp.Click here to read more.