Airline to Seek Union Contract Relief | Denver Bankruptcy Attorney

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According to the Denver Post, American Airlines is planning to ask the judge in their bankruptcy case to allow them to disregard the negotiated agreements with the unions if they are unable to reach an agreement to cut labor costs. The lead bankruptcy attorney for the airline says that negotiations have been handled in good faith, however union officials have indicated that they believe American has intended to ask for the contracts to be thrown out all along. Under federal law, American, which filed for bankruptcy in November, may be allowed to throw out the union contracts provided that it first tries to negotiate a different deal, and can show that they need the financial relief. The pilots, flight attendants, and ground workers unions have all been expecting the company to ask for relief from the contracts.

Is your business struggling to stay afloat in a weak economy? Speak with a Denver bankruptcy attorney to discuss your legal options.

 

Huge corporations like major airlines and auto manufacturers make the news all the time when they declare bankruptcy, but in many cases, bankruptcy can also be a way for struggling small business to remain solvent and get back on track. Many people hold the perception that bankruptcy means that the business is closing; in fact the goal of a chapter 11 bankruptcy is to reorganize the company’s debts in such a way as to provide financial relief so that the business can keep its doors open. Creditors benefit because this way they are more likely to recover some of the money they are owed, and of course the business benefits by staying open. ¬†While a Denver debt management professional may be able to help, sometimes bankruptcy is the only way to keep the doors open.

If your business has been struggling with bills and debt, bankruptcy may be an option to help keep your doors open. Bankruptcy law is extremely complicated, and you need a dedicated Denver bankruptcy attorney to explain your options, and help you understand and decide whether it may be the best option for you. Brian Daniel is an experienced bankruptcy attorney who can guide you through the entire process, and help you keep your doors open. For more information and a FREE CONSULTATION contact Brian today at (303)951-0233.


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