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Proposed Bankruptcy Fairness and Employee Benefits Protection Act of 2014 would place significant restrictions on employers in...

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...more

Bill on Bankruptcy: Patriot Coal Case Kicked From Manhattan To St. Louis [Video]

Nov. 29 (Bloomberg Law) -- The decision sending the Patriot Coal Corp. reorganization to St. Louis will focus debate on the near impossibility of convincing a judge in New York or Delaware to send a bankruptcy somewhere else,...more

Pennsylvania Legislature Restores Jurisdiction of Act 47 over Interest Arbitration Awards

Governor Corbett last week signed SB 1321, which requires that Act 111 interest arbitration awards comply with a municipality’s Financial Recovery Plan under the Municipalities Financial Recovery Act (Act 47). The law becomes...more

Governors Oppose Bankruptcy for States

On the ongoing debate in Congress regarding legislation to allow states to seek federal bankruptcy protection, the governors of the respective states have got this to say – “We don’t want any of it” (paraphrase mine). For...more

Bankruptcy Not a Cure-All

Allowing states to file for bankruptcy is not going to cure all the public pension problems, according to one expert. Professor Joshua Rauh of Northwestern University told a congressional hearing this recently. However,...more

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