Alpha Founder, Others Object to Benefits Termination
Alpha Natural Resources founder, chairman and CEO Michael J. Quillen and other retirees are objecting to the coal operator's plan to terminate their health care and other benefits.
In a Tuesday filing, the retirees say they haven't been provided sufficient time to analyze Alpha's plan and respond. They asked the U.S. Bankruptcy Court in Richmond on Tuesday to delay a Nov. 17 hearing.
Bristol, Virginia-based Alpha asked the court on Nov. 3 to allow it to terminate the non-pension benefits of more than 4,500 non-union retirees, eligible spouses and dependents.
Quillen says in a news release that eliminating the benefits "goes against the values the company was built on."
Alpha filed for Chapter 11 bankruptcy on Aug. 3. The company has operations in Virginia, West Virginia, Kentucky, Pennsylvania and Wyoming.