TITLE

Chapter 11 Under Fire: Critics say stockholders, unions lose in reorganizations while lawyers win

AUTHOR(S)
Jost, Kenneth
PUB. DATE
July 1992
SOURCE
ABA Journal;Jul92, Vol. 78 Issue 7, p32
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
Discusses criticisms against the Chapter 11 provision of the federal bankruptcy law of the United States. Enabling of a debt-laden company to ward off creditors while management tried to improve the company's finances; Labor unions' claim that companies have used Chapter 11 reorganizations to cut wages and renege on employee health care and pension plans; Consumer groups' argument that the law entrenches the managers responsible for the companies' debt.
ACCESSION #
4787287

Tags: BANKRUPTCY;  CORPORATION law -- United States

 

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