Massey-Alpha merger situation heating up- By Ken Ward, Jr.

[Massey] is a corporation with considerable assets, including some of the best coal reserves in the central Appalachian region.

As a result of the misconduct and mismanagement of the insider defendants… all assets of [Massey] are being transferred to Alpha in the merger. In doing so, the insider defendants, as well as other members of management, including former CEO Don Blankenship, are liquidating risk into cash and are able to walk away from the merger with substantial amounts of cash while the plaintiff creditors will have nothing more than unsecured claims against a highly leveraged, cash-poor company.

READ MORE OF KEN WARDS ARTICLE AT COAL TATTOO

Advertisements
This entry was posted in From Other Blogs. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s