Code · BILL · 115th Congress · S. 2518 (Introduced in Senate) — To amend title 11, United States Code, to improve protections for employees and retirees in business bankruptcies. · Sec. 203

Sec. 203. Protection of employee benefits in a sale of assets

71 words·~1 min read·/bill/115/s/2518/is/section-203

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Section 363(b) of title 11, United States Code, is amended by adding at the end the following: In approving a sale under this subsection, the court shall consider the extent to which a bidder has offered to maintain existing jobs, preserve terms and conditions of employment, and assume or match pension and retiree health benefit obligations in determining whether an offer constitutes the highest or best offer for such property. .