Patriot Can Sell Assets

A bankruptcy judge says Patriot Coal can sell its remaining assets at auction. The Wall Street Journal reports that U.S. Bankruptcy Judge Keith Phillips said on Monday at a hearing in Richmond that he would sign off on Patriot holding an auction on Sept. 9. Patriot announced earlier this month that it planned to sell some assets to an affiliate. Blackhawk Mining announced in June that it planned to acquire the majority of Patriot’s mining operations. Rival bids are due Friday.