USA

Bankruptcy is no excuse

Working can be left with nothing if the company in which they work, has applied for liquidation because of debts. However, it is possible that the situation, which is interested in the Congress will change.

Democrat Tim Ryan, a member of the house of representatives from Ohio, said it plans to re-introduce developed in 2017, the bill, which is in bankruptcy equals the requirements of employees to the administrative costs, that is, provides for their satisfaction in full. In the first place, the bill obliges to pay off the pension obligations.

In July last year, Ryan and another 18 members, including presidential candidates Bernie Sanders and Talsi Ms. Gabbard, called to account owners of a network of Toys R Us, bankruptcy due to which the employees were left without salaries, and Congresswoman Alexandria, Ocasio-Cortez released a video with the stories of these people about how hard they have to. In addition, in January, Senator Elizabeth Warren, is also a claim for the presidency, has publicly doubted that the Chairman of Sears, Eddie Lampert really intends to defend the interests of their employees.

According to Ryan, this problem has become particularly evident during the period of suspension of activities of the Federal government, when more than a month without a paycheck has left hundreds of thousands of Federal employees. Although it is unlikely that his initiative will be supported in the Senate, where majority Republicans, its discussion can lead to the fact that similar bills are complicating companies exemption from its obligations by means of liquidation, will be developed at the state level.

Yet former employees of Toys R Us seeking funds from KKR & Co. and Bain Capital, which owns the network assets, to allocate $ 20 million to assist those affected by its elimination. And in October last year, Lampert, filing for bankruptcy Sears, promised simultaneously to save around 40 thousand jobs, which allowed recently to raise funds that helped to keep the company afloat.

Source:news.rusrek.com
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