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Tips For Unionized Companies Weighing Bankruptcy

Law360 (April 29, 2009, 12:00 AM EDT) -- With General Motors facing bankruptcy and Chrysler facing possible liquidation if its marriage to Fiat does not work out, these high profile examples of distressed unionized companies serve as a reminder to any unionized company struggling in this economy to review applicable principles of bankruptcy law.

Chapter 11 of the U.S. Bankruptcy Code "permit[s] the debtor, under court supervision, to rehabilitate and reorganize its business, by allowing a debtor to relieve itself of the burden of oppressive debt and begin a fresh start."

When a company...
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