"U.S. Judge Signs Peabody Bankruptcy Exit After Environmental Deal"

"A U.S. judge formally approved Peabody Energy Corp's plan to emerge from bankruptcy late Friday after the coal producer struck a settlement with the U.S. government over legacy environmental claims at a gold and metal mining subsidiary.

Under a last-minute deal with the U.S. Department of Justice, Peabody agreed to create a $43 million trust to manage environmental liabilities stemming from its dormant Gold Fields Mining subsidiary, according to court papers.

'This is a great day for Peabody and, more importantly, our multiple stakeholders who benefit from the many products and services we provide,' Peabody spokesman Vic Svec said on Saturday."

Tracy Rucinski reports for Reuters March 18, 2017.

Source: Reuters, 03/20/2017