Posts tagged Chapter 11
Yellow Found Liable for $6.5 Billion in Pension Claims
September 20, 2024 // Earlier this month, Goldblatt ruled that Teamsters president Sean O'Brien could be deposed regarding the leadup to Yellow's bankruptcy, which could be a factor in whether the estate must pay up the class-action claims. According to Yellow, letters and conversations between O'Brien and former Yellow CEO Darren Hawkins show that the trucking company had a reasonable basis to believe it could prove that the company is not liable for the WARN Act claims. The Teamsters represented 22,000 of Yellow's roughly 30,000 employees when the company went under, with both parties blaming the other for the logistics firm's demise.
Huge shipping company shuts down and files Chapter 7 bankruptcy
July 10, 2024 // A review of the Texas Workforce Commission website shows that U.S. Logistics Solutions did not file a 60-day notice to employees that's required under the Worker Adjustments and Retraining Notification Act for companies with more than 100 employees. Failure to file the notice led a former employee on June 24 to file a class-action adversary proceeding complaint in the U.S. Bankruptcy Court against the debtor. The Charlotte, N.C.-based private equity firm in a statement said that all of the shipping company's employees had received their final paychecks, according to FreightWaves.
The astonishing number of fast food jobs lost – and restaurants shut – because of California’s new $20-an-hour minimum wage
June 11, 2024 // When the Democrat governor signed the law in 2023, Newsom said the state was getting 'one step closer to fairer wages, safer and healthier working conditions, and better training by giving hardworking fast food workers a stronger voice and seat at the table.' But Republican critics claimed the wage hike would simply mean workers are replaced with self-checkouts and 'robot cooks.' Harsh Ghai, a Burger King franchisee with 140 restaurants on the West Coast announced in April how he planned to have digital kiosks installed in all his locations in two months.
Massive California fruit grower is bankrupt. Here’s how many jobs will be lost
January 29, 2024 // The letter also served as notice under the Worker Adjustment and Retraining Notification, or WARN, Act, which under federal and state law requires companies to provide at least 60 days advance notice of mass layoffs. A company document of regular full time positions shows there are 5,411 employees. Of those, 3,743 are seasonal employees. Dan Gerawan, the former CEO of Gerawan Farming and Prima Wawona, spoke briefly about the upcoming sale of the farm’s property. Gerawan, the third generation owner of Gerawan Farming, has a pending lawsuit against Paine Schwartz Partners. Read more at: https://www.sacbee.com/news/california/article284696191.html#storylink=cpy
International Longshore and Warehouse US dockworkers union files for bankruptcy
October 2, 2023 // The union has been facing a looming trial on claims that it illegally slowed down operations over several years at the Port of Portland, then operated by an affiliate of Philippines-based maritime company, according to a Wall Street Journal report. The International Longshore and Warehouse Union (ILWU) representing U.S. dockworkers has filed for a chapter 11 bankruptcy protection to resolve a pending litigation with the Oregon affiliate of the International Container Terminal Services Inc (ICTSI).
Yellow closure affecting 800 Hoosier union truckers
August 21, 2023 // The nearly 100-year-old company was known for its “less-than-truckload” business model, meaning it delivered freight for multiple customers on the same truck. The company was significantly popular, growing to be one of “the Big Three” carriers in the country until trucking was deregulated in 1984. That meant nonunionized carriers could come to market, building competition for the big three.