St. Louis-based Patriot Coal Corp. filed for Chapter 11 bankruptcy protection on July 9th. U.S. Bankruptcy Judge Shelley C. Chapman, a bankruptcy judge in New York, has approved an $802 million financing package for Patriot to continue operations as it restructures, to continue paying wages and providing benefits to employees and use existing customer programs. Patriot said Monday that its mining operations and coal shipments are continuing. Chairman and CEO Irl F. Englehardt says the company is continuing to identify changes needed to ensure its viability. Patriot Coal operates mines in West Virginia and Kentucky.
