Patriot Coal Reorganization Plan Confirmed by Court

Patriot Coal Corporation PATCA today announced that the Bankruptcy Court has said it will enter an order confirming Patriot's Plan of Reorganization.  In doing so, the Court approved the transactions to sell a substantial majority of Patriot's operating assets to Blackhawk Mining, LLC ("Blackhawk") and to sell substantially all of its remaining assets and liabilities to an affiliate of Virginia Conservation Legacy Fund, Inc. ("VCLF").  Bob Bennett, President and Chief Executive Officer of Patriot, said, "We are pleased to have received Court approval for the transactions with Blackhawk and VCLF, which we believe represent the best possible outcome for Patriot and its stakeholders. These transactions preserve jobs, help ensure environmental obligations are handled in a responsible manner and maximize value for creditors.  I want to thank our employees for their hard work and dedication throughout the sale process. I also want to thank our restructuring professionals and parties in interest, who worked in a dedicated and cooperative manner to help us achieve this successful outcome. See full press release