Tierney Blog

West Va AG Wisely Retains Bankrupcy Expert in Coal Mine Environmental Cleanups

With various coal companies in or on the verge of bankruptcy, the AG of WVa has wisely retained a bankruptcy expert to protect his state's interest in assuring past clean up and restoration promises by the industry are carried out in the face of bitter litigation, where the hedge fund dominated creditors are battling for every dime. Because bankruptcy inherently deals in the world of broken promises, it requires sharp elbows and quick action by a state AG to make sure that disappearing assets remain for the public interest. An excellent paper by Columbia Law School graduate Tim Abbott, '07, analyzes this precise issue and remains highly relevant.