International Longshore and Warehouse US dockworkers union files for bankruptcy [View all]
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Source: Reuters
October 1, 2023 12:18 PM EDT
Oct 1 (Reuters) - The International Longshore and Warehouse Union (ILWU) representing U.S. dockworkers has filed for a chapter 11 bankruptcy protection to resolve a pending litigation with the Oregon affiliate of the International Container Terminal Services Inc (ICTSI).
The union has listed its assets and liabilities in the range of $1 million to $10 million, according to the Sept. 30 filing made in a San Francisco court.
"While we have attempted numerous times to resolve the decade-long litigation with ICTSI Oregon, at this point, the Union can no longer afford to defend against ICTSI's scorched-earth litigation tactic", said ILWU International President Willie Adams.
"We intend to use the chapter 11 process to implement a plan that will bring this matter to resolution and ensure that our Union continues to do its important work for our members and the community," he added. ICTSI did not immediately respond to a request for comment.
Read more: https://www.reuters.com/markets/deals/international-longshore-warehouse-us-dockworkers-union-files-bankruptcy-2023-10-01/
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