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CHC Group Payment Approved

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The U.S. Bankruptcy Court approved CHC Group’s motion to pay severance in accordance with applicable legal requirements and collective bargaining agreements to individuals whose employment with the Debtors may be terminated in the future.

As previously reported, “By this Motion, the Debtors are requesting authority to continue the Severance Policy, including the payment of the Statutory Severance and Benefit Payments and CBA Severance Payments. As part of the restructuring process, the Debtors expect to pay, in the aggregate, up to approximately $9,000,000 for Statutory Severance and Benefit Payments and CBA Severance Payments to approximately 210 employees, the majority of which are covered under collective bargaining agreements in Australia and Canada, and none of whom are ‘insiders’ as such term is defined in section 101(31) of the Bankruptcy Code.”

Read more CHC bankruptcy news.

The post CHC Group Payment Approved appeared first on Daily Bankrupt Company Updates | Bankrupt Company News.


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