Bankrupt Coda Gets WARN Settlement Approved

Law360, Wilmington (November 19, 2013, 6:58 PM EST) -- A Delaware bankruptcy judge on Tuesday gave the green light to a settlement between defunct electric carmaker Coda Holdings Inc. and employees suing it for allegedly improper layoffs, this over the objections of a unit of the debtors private equity buyer Fortress Investment Group LLC.

U.S. Bankruptcy Judge Christopher S. Sontchi ruled that the settlement was “clearly” in the best interests of the debtors, especially since he believed the former employees had what he called a “very strong” U.S. Worker Adjustment and Retraining Notification Act claim....
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