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Ford, UAW put out the call for revisions to bankruptcy law.(News)
Crain's Detroit Business, April, 2006
Byline: Philip Nussel Crain News Service The surge in auto suppliers seeking Chapter 11 bankruptcy protection has prompted Ford Motor Co. and the United Auto Workers to launch separate efforts at revising parts of the federal bankruptcy code. Ford global purchasing chief Tony Brown last week called for changes specific to the auto industry that would make it easier for automakers to recover tooling and other assets from suppliers that file for Chapter 11.
In a separate effort, the UAW backs a bill introduced in Congress this month that would make it harder for bankrupt suppliers to move U.S. jobs to foreign operations. It would direct courts to consider a company's foreign assets when deciding whether the company can break its union contracts. The...
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