Bankruptcy Law News

Murray Energy’s Creditors Ask to Sue Founder for Raiding Cash

May 4, 2020, 10:14 PM

Creditors of Murray Energy Corp. are seeking permission to sue founder Bob Murray and his family members to recover what they allege was at least $71 million in excessive compensation in the years leading up to the coal giant’s bankruptcy.

Murray and nephew Rob Moore received at least $100 million more than senior executives in comparable companies for the years 2016 through 2019, the unsecured creditors committee said in a May 1 filing with the U.S. Bankruptcy Court for the Southern District of Ohio.

Their total cash compensation during this period was at least $120 million, the committee said in...

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