Unions Chide Cos. For Abusing Bankruptcies

Law360 (May 31, 2008, 12:00 AM EDT) -- Companies have abused the bankruptcy process by forcing workers to bear the brunt of corporate reorganizations, prompting the need for new laws that give workers more rights under Chapter 11, employee advocates told U.S. House of Representatives members on Thursday.

The commercial and administrative law subcommittee of the House Judiciary Committee heard arguments regarding the “Protecting Employees and Retirees in Business Bankruptcies Act of 2007,” which was introduced concurrently in the House and Senate in September.

The bill would increase the value of worker claims in...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.