Patriot Coal wants a bankruptcy judge's permission to reject the company's collective bargaining agreement with union miners and change retirees' health care benefits, The Associated Press reported today. Patriot wrote that it would otherwise run out of cash and have to liquidate in a matter of weeks. The move would be necessary, according to Patriot, to close on a proposed partial sale to Blackhawk Mining LLC. Otherwise, the United Mine Workers of America would need to reach collective bargaining terms with Blackhawk, which doesn't want to contribute to the pension plan.
