A day before a key hearing on its reorganization plan, bankrupt coal mining company Peabody Energy Corp filed court papers on Wednesday seeking court approval for a $75 million deal to resolve a dispute with a mine workers union retirement plan.
Peabody filed its papers in the U.S. Bankruptcy Court in St. Louis, where the company is headquartered. The settlement is much less than the nearly $643 million the United Mine Workers of America 1974 Pension Plan and Trust had sought.
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