Bankruptcy II - The Accomodation of the Bankruptcy and Labor Acts in Chapter 11 Reorganizations

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Authors
Norris, Michael P.
Issue Date
1983
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Journal Article
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INTRODUCTION|This article addresses the issue of whether a trustee-in-bankruptcy under Chapter 11 of the Bankruptcy Reform Act of 1978 (Bankruptcy Code) may void or reject a collective bargaining agreement between a bankrupt employer and an employee union. Resolution of this issue requires an analysis of two very important, yet diverse, federal statutory schemes, the Bankruptcy Code and the National Labor Relations Act (NLRA). |The congressional policies behind these acts are particularly illustrative of the existing diversity. The Bankruptcy Reform Act, especially Chapter 11, is generally designed to restructure a financially troubled entity's finances in order to preserve the continuing existence of the entity as well as preserve its employees' jobs. The creditors hopefully will be able to recover more on the existing debts and society will receive benefits from the continued production of goods and services. In contrast, the NLRA was enacted in 1935 in order "to promote industrial peace by facilitating collective bargaining and to reduce the disparity in bargaining ' power between employers and employees."...
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16 Creighton L. Rev. 859 (1982-1983)
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Creighton University School of Law
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