Massey Energy Company announced that its property and business interruption insurance carriers agreed to pay $21 million on Massey’s claim related to the October 2000 slurry spill at its Martin County Coal subsidiary, for property damage, business interruption and related expenses.
At this time, the company anticipates recording earnings per share related to this settlement of approximately $0.13, after adjusting for a previously booked receivable and claim settlement expenses.
The settlement will be recognized in the company’s Sept. 30, 2003 third quarter results.
Was this article valuable?
Here are more articles you may enjoy.
Ex-First Brands Officer Says He Was Kept in the Dark About Fraud 
Bargain Car Hunters Drive Next Wave of US EV Sales 
England Has 1.2M Buildings at Risk of Flooding With No Defenses, Study Shows 
Three Sentenced in Videoed Bear-Suit Attacks Insurance Fraud Case 
Want to stay up to date?
Get the latest insurance news
sent straight to your inbox.