Overdue Pay for Workers Approved Judge Clears Funds for Red Shield Staff
Bangor Daily News › July 01, 2008
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Summary
BANGOR - Paychecks are on the way to employees at Red Shield Environmental LLC and RSE Pulp & Chemical LLC who have been waiting more than two weeks to be paid.
U.S. Bankruptcy Judge Louis H. Kornreich decided at a hearing Monday in Bangor to allow the companies to take an advance on money borrowed from Chittenden Bank despite the fact that Red Shield and RSE Pulp have filed Chapter 11.See the full content of this document
Extract
Overdue Pay for Workers Approved Judge Clears Funds for Red Shield Staff
Chapter 11 of the Bankruptcy Code is designed to provide companies with the time and opportunity to reorganize, including by restructuring their debts or...
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