Massey Energy has settled some claims stemming from lawsuits filed by Harman Mining Corp. and its affiliates in which the latter claimed Massey's actions caused it to go out of business, a recent filing to the Securities and Exchange Commission revealed. Harman alleged that former Massey subsidiary Wellmore Coal Corp. had inappropriately declared a force majeure, thereby reducing the amount of coal to be purchased from Harman under the contract (CD 8/30/00). The Virginia Supreme Court in September tossed out an appeal from Massey of a lower-court ruling that could cost the company more than 7 million dollars (CD 9/ 17/02), and on Nov. 2 denied a petition for rehearing. Massey on Nov. 12 settled that suit by paying Harman 6.0 million dollars plus post-judgment interest of approximately 1.2 million dollars.
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