A bill to amend section 1114 of title 11, United States Code, to preserve the health benefits of certain retired miners.
Summary
This bill, introduced in 2005, aims to protect the health insurance benefits of retired coal miners when their former employers file for Chapter 11 bankruptcy. Under current law, companies in bankruptcy can sometimes seek court approval to reduce or eliminate retiree benefits to save money; this legislation would specifically prohibit bankruptcy courts from allowing the termination or modification of these coal industry health benefits. For affected retirees, the bill is designed to ensure that their medical coverage remains intact even if the company they worked for faces financial insolvency.
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