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Article: Judge says no to back vacation pay for Knoxville, Tenn., steelworkers.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- August 21, 2004
CopyrightCOPYRIGHT 2004 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By Rebecca Ferrar, The Knoxville News-Sentinel, Tenn. Knight Ridder/Tribune Business News
Aug. 21--U.S. Bankruptcy Judge Richard Stair struck down a motion seeking back vacation pay for workers at Fulton Bellows & Components.
Morris Capital Management of Chattanooga paid $6.3 million for the 100-year-old Knoxville company, but there is no money from the sale or from the operation of the company to fund the claim for vacation pay, parties involved in the case concluded.
The judge said the unions could refile their motion or file a lawsuit seeking relief.
The company was bankrupt when Morris bought it, and all the $6.3 million ...