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Circuit City Creditors Balk At WARN Act Payments

Law360 (December 1, 2008, 12:00 AM EST) -- The committee of unsecured creditors has objected to bankrupt Circuit City Stores Inc.'s bid to pay laid-off employees under the Worker Adjustment and Retraining Notification Act, saying the electronics retailer would be better served keeping the money at this critical juncture.

In a motion filed Wednesday in the U.S. Bankruptcy Court for the Eastern District of Virginia, the official committee of creditors holding unsecured claims said that the former workers not providing ongoing services — if they do have legitimate claims — shouldn't be paid ahead...
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