Progressive talk show host Leslie Marshall and United Steelworkers (USW) International Secretary-Treasurer Stan Johnson discussed how companies are manipulating the bankruptcy code and how these actions hurt working families.
Johnson talked about how workers lose their pensions and health care benefits when a traditional bankruptcy occurs because of laws that primary creditors over the lives of working men and women.
A recent case of Peabody Coal, the world’s largest private-sector coal company, deliberately established Patriot in such a way that it would fail so that it could receive sanction through bankruptcy to desert its retiree health care obligations.
The ruling by a bankruptcy judge shows how the banckruptcy code can and is being manipulated by corpoate lawyers in ways where it protects companies and places the burden on the backs of workers.
To hear more of the discussion, click the audio below.
For more information, go to Court Grants Corporations Impunity to Mug Retirees
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