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In 2008, the average price of metallurgical coal jumped over 50%, and Justice’s Bluestone sold 2.8 million tons of it that year.
Billy Shelton, who represents Kentucky Fuel, had to get a court judgment in 2013 for $85,000.
Preferring to wash its hands of the deal, Mechel sold Bluestone back to Justice in 2015 for $5 million, plus the assumption of at least $140 million in liabilities, and each side dropped all claims against the other.
In December 2017, a United States district court in New York issued a judgment for $843,000 against Justice’s Southern Coal in favor of National Union Fire Insurance Co.
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