Teamsters Fight Hostess Ch. 11 Proposal With Rival Plan

Law360, New York (April 16, 2012, 4:13 PM EDT) -- The Teamsters union rejected Hostess Brands Inc.'s proposal for restructuring the company and released its own plan Monday, a day in advance of a New York bankruptcy court hearing that will determine whether the company can abandon its collective bargaining agreements with unionized workers.

The Teamsters announced a restructuring agenda that emphasizes equal sacrifice from workers and management, expressing anger at recent news that executives had received major pay raises in the run-up to the bankruptcy, after the company had stopped contributing to pension plans....
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