More on the Chicago Factory Occupation - Union blames Bank of America

[TomClash]

CHICAGO, Dec. 5 (UPI) -- Workers at a Chicago factory that shut down this week said Friday they will remain in the plant until police throw them out or they get their last paychecks.

A union representative at Republic Windows and Doors blamed Bank of America for the debacle, CBS2 in Chicago reported. Leah Fried of the United Electrical Workers of America accused the bank of forcing the company to close by cutting off credit and then refusing to guarantee payment on its last checks.

Workers said they feel desperate.

"It's just miserable, everything is up in the air," Melvin Maclin, a Republic employee, said. "We don't know anything, no one wants to talk with us."

Several hundred people worked at the Republic plant. The TV station said dozens remained there Friday night.

Bank of America released a statement denying any responsibility for the situation.

"Neither Bank of America nor any other third-party lender to the company has the right to control whether the company complies with applicable laws or honors its commitments to its employees," the statement said.


http://www.upi.com/Top_News/2008/12/05/Workers_occupy_closed_factory/UPI-36601228536340/

[stray cat]

1. If a company goes under who is responsible for outstanding bills?

This doesn't sound like chapt 11 bankruptcy with set protocols and accountabilities. If I would go bankrupt the people I owe would take the loss or take me to court and hope they could salvage something.

[TomClash]

2. Maybe it's a Chapter 7 (liquidation) bankruptcy

[stray cat]

3. Thanks for the info - I googled chapt 7 bankruptcy and learned something

I'm afraid this type of bankruptcy map be prevalent this coming year.

[Hannah Bell]

4. But - but - BoA got bailout money!!!

"Thank god it passed!"

[Omaha Steve]

5. Great point

K&R for the story.