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Rejection of Collective Bargaining Agreements in Chapter 11 Bankruptcies

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Publication Date: May 2008

Publisher(s): Library of Congress. Congressional Research Service

Series: RL34486

Topic: Banking and finance (Financial planning and risk)

Type: Report

Coverage: United States United States

Abstract:

Introduced in the 110th Congress, the Protecting Employees and Retirees in Business Bankruptcies Act of 2007 (H.R. 3652) proposes a number of changes to the U.S. Bankruptcy Code. According to the sponsors, the changes are needed to remedy inequities in the bankruptcy process and to recognize that employees and retirees have a unique investment in their companies through their labor.