Dow Jones – Two hedge funds are asking that an outsider take over Patriot Coal Corp . in order to extricate it from a bitter fight with its miners union.
Aurelius Capital Management LP and Knighthead Capital Management LLC, which manage funds that own Patriot bond debt, on Thursday filed court papers requesting the appointment of an independent Chapter 11 trustee to run Patriot and the dozens of its affiliates that they say aren’t party to a labor agreement with the United Mine Workers of America.
