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Critical Labor Considerations in Bankruptcy and Business Restructuring (Audio-only)

Jul. 21, 2009



Overview

July 21, 2009, 1:00 pm - 2:00 pm  (E.D.T.) 

A critical issue confronted by employers in economic distress whose liabilities include current or past contractual obligations to unionized employees is whether they can obtain significant concessions from their unions.   The relevant considerations in this analysis often extend to whether, through a bankruptcy filing or other financial restructuring, the employer can: (i) modify or reject a collective bargaining agreement; or (ii) reduce or eliminate vested retirement benefits.   Similarly, private equity or other potential investors in such a business, or entities exploring such an acquisition in or prior to a bankruptcy, factor into their business analysis whether the acquiring entity can avoid successor labor liabilities and negotiate favorable employment terms with the prior employer’s unions.

Please join Joshua L. Ditelberg, Stuart Newman and Howard Pianko of Seyfarth Shaw LLP for a discussion of labor strategies and obligations in bankruptcy and business restructuring in today’s economic environment. 

Topics to be covered include:

  • Concessionary bargaining to avoid bankruptcy
  • The requirements to modify or reject a collective bargaining agreement under Section 1113 of the Bankruptcy Code
  • The requirements to reduce or eliminate vested retirement benefits under Section 1114 of the Bankruptcy Code
  • Understanding and avoiding successor labor liabilities as a purchaser (e.g., through Section 363 of the Bankruptcy Code)
  • Negotiating favorable employment terms with the seller’s unions as a purchaser
  • Modification or elimination of medical and other retiree benefits

Faculty

Speaker(s)

Joshua L. Ditelberg, Partner, Seyfarth Shaw LLP
Stuart Newman, Partner, Seyfarth Shaw LLP
Howard Pianko, Seyfarth Shaw LLP

Program Attorney(s)

Amy Taub, Practising Law Institute

CLE Credit

PLI makes every effort to accredit its Live Webcasts.  Please check the CLE Calculator above for CLE information specific to your state.

PLI's Live Webcasts are approved for MCLE credit (unless otherwise noted in the product description) in the following states/territories:

Alabama, Alaska, Arizona, Arkansas, California, Colorado, Delaware, Florida, Georgia, Hawaii, Idaho*, Illinois, Indiana1, Iowa*, Kentucky*, Louisiana, Maine*, Minnesota, Mississippi, Missouri, Montana, Nebraska, North Carolina, North Dakota, New Hampshire*, New Jersey, New Mexico, Nevada, New York2, Ohio3, Oklahoma, Oregon*, Pennsylvania4, Rhode Island, South Carolina, Tennessee, Texas, Utah, Vermont, Virginia, Virgin Islands, Washington, West Virginia, Wisconsin, and Wyoming*.

*PLI will apply for credit upon request.

Arkansas, Mississippi, Ohio, Oklahoma, and Rhode Island: Audio-only live webcasts are not approved for credit.

1Indiana: Considered a distance education course. There is a 6 credit limit per year.

2 New York: Newly admitted attorneys may not take non-transitional course formats such as on-demand audio or video programs or live webcasts for CLE credit. Newly admitted attorneys not practicing law in the United States, however, may earn 12 transitional credits in non-traditional formats.

3Ohio: To confirm that the live webcast has been approved, please refer to the list of Ohio’s Approved Self Study Activities at http://www.sconet.state.oh.us. Online programs are considered self-study. Ohio attorneys have a 6 credit self-study limit per biennial compliance period. The Ohio CLE Board states that attorneys must have a 100% success rate in clicking on timestamps to receive ANY CLE credit for an online program.

4 Pennsylvania: A live webcast may be viewed individually or in a group setting. Credit may be granted to an attorney who views a live webcast individually. There is a 4.0 credit limit per year for this type of viewing. A live webcast viewed in a group setting receives live participatory credit if the program is open to the public and advertised at least 30 days prior to the program. Live webcasts viewed in a group setting that do not advertise at least 30 days prior the program will be considered "in-house", and therefore denied credit.

Running time and CLE credit hours are not necessarily the same. Please be aware that many states do not permit credit for luncheon speakers.

Note that some states limit the number of credit hours attorneys may claim for online CLE activities, and state rules vary with regard to whether online CLE activities qualify for participatory or self-study credits. For more information, refer to your state CLE website or call Customer Service at (800) 260-4PLI (4754) or email: info@pli.edu.

If you have already received credit for attending some or the entire program, please be aware that state administrators do not permit you to accrue additional credit for repeat viewing even if an additional credit certificate is subsequently issued.



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