Creditors allege Bob Murray used floundering co. as family piggy bank

Coal's big spending on denial

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Coal magnate Bob Murray was extravagantly overpaid and his family used resources of his insolvent company to fund “lavish lifestyles,” including personal use of the company’s private jets and helicopter, according to a new complaint prepared by Murray Energy Corp. creditors.

The creditors are seeking permission from a U.S. Bankruptcy Court to sue Murray and his family personally in order to recover debts owed by the company.

Between 2016 and 2019, Murray’s base salary was 33 times higher than those in similar positions at comparable companies, the complaint argues. Creditors say CEO Robert Moore, Murray’s nephew, obligated the company to pay $1.25 million for Murray’s personal legal fees.

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