Liquidating fiduciary exception to warn

In Riker Industries, the trustee alleged that the facility closing resulted from a sudden loss of financing.

The court rejected this argument, stating that "withdrawal of that financing should have been anticipated by [the] debtor as it was, no doubt, aware of its precarious financial condition." In United Healthcare, the bankruptcy court held that the "unforeseeable business circumstances" exception was not available because there were "months of warning signals" that placed the debtor's board on notice that debtor was "in financial extremis." With respect to the "faltering business" exception, the "capital or business" sought must be such that it would prevent or postpone the plant closing, and there must be a reasonable chance that the capital, financing or sale will occur. Return to article See, e.g., In re Jamesway Corp., 242 B.

In our second half we have an interview with Eric Jensen, professor of law at Brigham Young University, about his work on the Talinn 2.0 manual covering the law of cyberwar.

In our second half we have an interview with General Michael Hayden, former director of the NSA and CIA and author of "Playing to the Edge: American Intelligence in the Age of Terror." The views expressed in this podcast are those of the speakers and do not reflect the opinions of the firm.

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While the exceptions allow less than 60 days' notice, the employer is required to give as much notice as is practicable and must explain in the notice why less notice was given.

An employer may order a plant closing or mass layoff before the conclusion of the 60-day period if the closing or mass layoff is caused by business circumstances that were not reasonably foreseeable as of the time that notice would have been required.

Baker, Alan Cohn, Maury Shenk April 27, 2016In our 113th episode of the Steptoe Cyberlaw Podcast, Stewart Baker, Alan Cohn, and Maury Shenk discuss: United Kingdom: UK’s pending surveillance bill and GCHQ’s compliance regime for access to bulk personal data; Apple stops providing security patches to Quick Time on Windows; Federal judge rules FBI didn’t have proper warrant to hack child porn site; FISA Court troubled by surveillance excesses at FBI and NSA; and Chinese drone maker says that it may share data with local government.

In our second half, we have a one-hour panel discussion with cryptographers and security professionals at the Annual International Conference on Cyber Engagement, the panelists include: Patrick Henry, a notable cryptographer with experience at GCHQ, NSA, and the private sector; Dan Kaminsky, the Chief Scientist at White Ops; Kiran Raj, who is Senior Counsel to the Deputy Attorney General; and Dr.

The decision of the Third Circuit Court of Appeals in United Healthcare suggests that a DIP that "operates to liquidate" may be a liquidating fiduciary, and therefore not an "employer" for WARN Act purposes.

suggesting that the outcome might have been different had such evidence existed.

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The reported cases illustrate the difficulty most chapter 11 debtors-in-possession (DIPs) or trustees have in complying with the requirements of either exception.

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