Pacific Lumber Workers Denied Severance, For Now

Law360, New York (September 24, 2007, 12:00 AM EDT) -- A bankruptcy court ruled on Friday that Pacific Lumber Co. would not be allowed to pay 63 workers it fired shortly before entering Chapter 11 nearly $950,000 in severance pay before the court confirmed a reorganization plan.

On Dec. 1, 2006, shortly before entering bankruptcy, Pacific Lumber and its subsidiary Scotia Pacific LLP announced that they would fire over 100 employees in an effort to cut costs, effective Jan. 31. 63 of those employees were offered 60 days' wages as severance pay, with additional severance for...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.