United States: Proposed Bankruptcy Fairness And Employee Benefits Protection Act Of 2014 Would Place Significant Restrictions On Employers In Bankruptcy
Legislation recently introduced in the Senate would place many restrictions on the ability of a corporation navigating bankruptcy to change the compensation and benefits of employees and retirees. The bill would also create a presumption that retiree health benefits are fully vested. The “Bankruptcy Fairness and Employee Benefits Protection Act of 2014” (S. 2418) was introduced on June 3 by Senator Jay Rockefeller and its cosponsor, Senator Elizabeth Warren, and is currently before the […]