Sec. 207. Termination of exclusivity
110 words·~1 min read·
/bill/116/s/4089/is/section-207A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 1121(d) of title 11, United States Code, is amended by adding at the end the following: For purposes of this subsection, cause for reducing the 120-day period or the 180-day period includes— the filing of a motion pursuant to section 1113 seeking rejection of a collective bargaining agreement if a plan based upon an alternative proposal by the labor organization is reasonably likely to be confirmed within a reasonable time; and the proposed filing of a plan by a proponent other than the debtor, which incorporates the terms of a settlement with a labor organization if such plan is reasonably likely to be confirmed within a reasonable time. .