Bankruptcy Law
Bankruptcy Law News, Articles, Blogs, Webinars, White Papers & Events. Human Resources Management featuring HR news on Bankruptcy Law.
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Executive Bonuses at Bankrupt Auto Parts Supplier Visteon Denied by Judge
A bankruptcy judge has denied Visteon ..... place before it went bankrupt . Judge Christopher Sontchi of U.S. Bankruptcy Court in Wilmington ..... or emerged from bankruptcy violated a law that ..... to keep them at bankrupt companies. In overturning …
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Staffing Firms Among 750 Sued in Ensemble Chimes Global Bankruptcy Case
… and Axium back to 90 days before it filed for bankruptcy . Under bankruptcy law , those payments may have to be returned. Ensemble ..... largest vendor management system before filing for bankruptcy in January 2008 shortly after its parent company …
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Delphi Judge Orders Bankruptcy Emergence Bonuses Slashed, Cuts Exec Payout by 80 Percent
… week that he would green-light Delphiâ s bankruptcy planâ but only if the board agreed to substantially ..... in cash bonuses once the company emerged from bankruptcy . But U.S. Bankruptcy Judge Robert D. Drain said January 22 that Delphi …
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AMR Seeks Court Approval to Remove Lump-Sum Benefit Option in Pilots' Pension Plan
… parent AMR Corp. has asked a federal bankruptcy court in New York for permission to ..... its filing last week with the U.S. Bankruptcy Court for the Southern District of New ..... happening, American would be forced to seek bankruptcy court approval to terminate the plan …
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American Pilots Accept Contract With Pension Freeze Provision
… parent company AMR Corp., Fort Worth, Texas, to continue its Chapter 11 bankruptcy proceedings. The pension proposal is contingent on the resolution of the bankruptcy proceedings. American had already agreed to freeze three of four defined …
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American Airlines Wants to Terminate Pension Plans
… reorganization in November, receives bankruptcy court permission to fold the ..... terminations occurred in the wake of bankruptcy filings by the two airlines. In addition ..... Fort Worth, Texas, filed for bankruptcy reorganization in late November …
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Delphi Retiree Benefits Could Vanish in GM Bankruptcy
… customer, GM, contemplates bankruptcy itself. Delphi faces a deadline ..... far been spared. Last fall, a bankruptcy judge approved a deal that would have ..... Frost said. â If GM goes into bankruptcy , chances are our pensions will …
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Bankrupt Visteon Delays Plans to Award $80 Million in Bonuses
… as $80 million in bonuses while in bankruptcy to key employees, including executive ..... bonuses were to be heard in U.S. Bankruptcy Court in Wilmington, Delaware. Several key players in the bankruptcy case, including Ford Motor Co. and …
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PBGC Takes Over Collins & Aikman Pension Plan
… pension plan sponsored by bankrupt auto parts manufacturer ..... as contemplated in its bankruptcy proceedings. Collins ..... filed for Chapter 11 bankruptcy nearly two years ago ..... for April 19 in U.S. Bankruptcy Court. Filed by Jerry …
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Lehman Bankrupt ; Misery for Former Employees and Other Financial Firms Is Only Beginning
… jostled with onlookers for position so they could ask devastated employees what it felt like to be part of the largest corporate bankruptcy in history, while many of Lehmanâ s 10,000 New York staffers remained inside polishing their résumés and bidding …
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Private Equity Turns and Burns … Its Past
… example, a private equity investment in holiday fruit basket seller Harry & David Holdings Inc. resulted in the company going bankrupt in 2011 even though investors made off with millions in profits, according to a Bloomberg report. But such disturbing tales …
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Younger Workers Taking a Pass on Taking Over the Business
… with hundreds of thousands or even millions of dollars in debt, he said. "All of a sudden, they realize that this could bankrupt them," Schwartz said. Advisory firm founders often are surprised that their advisers aren't eager to own a stake. "If …
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Former Execs of Bankrupt HSA Administrator Accused of Fraud
Two co-founders of Canopy Financial Inc., a bankrupt Chicago-based health savings account administrator ..... fastest-growing privately held companies before it entered bankruptcy proceedings in late November. At that time, a special …
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New PBGC Rules Deny Benefit Guarantees After Employer Seeks Bankruptcy
… benefits earned after an employer files for bankruptcy and before the agency takes over the ..... the date the plan sponsor filed for bankruptcy . The rules implement provisions in ..... a result, if an employer filed for bankruptcy and continued its plan after bankruptcy …
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2012 Game Changer: Kristen Neubert
… telling DaVita Inc.'s story. And it is a compelling one. In 1999, DaVita, then known as Total Renal Care, was near bankruptcy . A new management team led by CEO Kent Thiry restructured the company resulting in a total turnaround by 2005, according …
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Judge Grants Delphi’s Wish to End Retiree Health Benefits
… convinced a federal court that the success of its bankruptcy reorganization depended on terminating health benefits ..... all current and future salaried employees. U.S. Bankruptcy Judge Robert D. Drain approved the request at a New York …
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American Airlines Freezes Its Pension Plans
… American's parent, Fort Worth, Texas-based AMR Corp., filed for Chapter 11 bankruptcy reorganization. In January, American said it would seek bankruptcy court approval to terminate the plans, which have about 130,000 participants …
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Ford, GM Face $2.5 Billion First VEBA Bill
… on the eve of their Chapter 11 bankruptcy filings last spring . GM, which had a ..... the company [GM] going into bankruptcy ,â he told Reuters this month ..... which lacked the threat of bankruptcy as leverage for greater UAW concessions …
