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Full-Text Articles in Law
The Rejection Of Collective Bargaining Agreements Within Bankruptcy Reorganization: Reconciling A Legislative Dilemma, Gust Goutras
The Rejection Of Collective Bargaining Agreements Within Bankruptcy Reorganization: Reconciling A Legislative Dilemma, Gust Goutras
Akron Law Review
In 1981, a Dallas based conglomerate, LTV Corporation, spun-off a subsidiary known as Wilson Foods. The purpose for this action was that Wilson Foods, the nation's fifth largest meat packer was suffering from financial difficulties. Shortly after the spin-off, Wilson Foods entered into a collective bargaining agreement with its unionized employees, initiating a wage freeze through 1985. Under this arrangement, Wilson Foods' losses continued to escalate.
The Pbgc Wins A Case Whenever The Debtor Keeps Its Pension Plan, Israel Goldowitz, Garth Wilson, Erin Kim, Kirsten Bender
The Pbgc Wins A Case Whenever The Debtor Keeps Its Pension Plan, Israel Goldowitz, Garth Wilson, Erin Kim, Kirsten Bender
Marquette Benefits and Social Welfare Law Review
The Pension Benefit Guaranty Corporation, the federal agency charged with insuring private-sector defined benefit pension plans, has long had a prominent role in corporate bankruptcies. PBGC focuses its effort on the continuation of pension plans, in true reorganizations and in sales of businesses. To this end, ERISA has made it more difficult for a sponsor to terminate a plan in its own economic interest. For example, a sponsor’s latitude to terminate an underfunded plan was limited to circumstances involving the sponsor’s financial distress. Likewise, the termination premium, which was added to ERISA in recent years, is an obligation that survives …