Alpha Case Summary

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There are many coal mines filing for bankruptcy in West Virginia, Virginia, and other states. These bankruptcies are caused by debts of billions of dollars. A lawyer was assigned to assist the Department of Environmental Protection in the Alpha case. The lawyer, Kevin W. Barrett of Bailey & Glasser, subpoenaed Citicorp. Citi responded after over a month. Two big hedge funds, Highbridge Capital Management and a unit of Davidson Kempner, were part of the lender list. Alpha’s plan was to commit a couple hundred million dollars to help reclamations and water treatment. This would be used in five states: Illinois, Kentucky, Tennessee, Virginia, and West Virginia. Barrett was worried that the money was insufficient and additional contributions depended

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