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The application should be filed with the court prior to the application; the applicant may not simply turn up with it on date of application. It must be on the roll. A copy of the application must be given to the “consulting party” where the debtor is a business owner. The consulting party will usually be a trade union.
However, even with §1113, rejection of a collective bargaining agreement is allowed under this specific procedure. Once in bankruptcy, a debtor may file a motion to reject the collective bargaining agreement any time, provided that the debtor first fulfills its obligation to make a proposal to the union regarding "necessary" modifications to the collective bargaining agreement, provides the ...
Chapter 11 of the United States Bankruptcy Code (Title 11 of the United States Code) permits reorganization under the bankruptcy laws of the United States. Such reorganization, known as Chapter 11 bankruptcy, is available to every business, whether organized as a corporation, partnership or sole proprietorship, and to individuals, although it is most prominently used by corporate entities. [1]
The retailer filed for Chapter 11 bankruptcy protection late Sunday, Yahoo Finance learned exclusively. The company said in a press release it is doing this in order to refinance its debt to ...
Court rules Metropolitan AME Church owns Proud Boys' trademark after the group fails to pay $2.8 million judgment.
Five months after the matter was seemingly closed, a lawsuit fighting to make Prince Harry’s private US visa records public will reopen in court on Wednesday.. The Duke of Sussex admitted he had ...
The Companies' Creditors Arrangement Act [1] (CCAA; French: Loi sur les arrangements avec les créanciers des compagnies) is a statute of the Parliament of Canada that allows insolvent corporations owing their creditors in excess of $5 million to restructure their businesses and financial affairs.
President Trump fired Federal Election Commission Chairwoman Ellen Weintraub on Thursday in a move the Democratic official claims is illegal.. Weintraub, who has served as an FEC commissioner ...