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International Container Terminal Services Inc

All articles tagged with #international container terminal services inc

business2 years ago•2 min saved

ILWU Dockworkers Union Files for Bankruptcy Amidst Portland Dispute

The International Longshore and Warehouse Union (ILWU) has filed for bankruptcy after losing a long-running battle over labor issues at the Port of Portland. The union owes $19 million in damages to International Container Terminal Services Inc. (ICTSI) following a court case eight years ago. ILWU's assets amount to $11.6 million, leaving a shortfall of $7.4 million. The bankruptcy filing aims to implement a plan to resolve the matter, while the union seeks to preserve its cash management system and meet employee and payroll obligations.

via Splash 247|

#bankruptcy #business #ilwu

business2 years ago•1 min saved

US Dockworkers Union Declares Bankruptcy

The International Longshore and Warehouse Union (ILWU), representing U.S. dockworkers, has filed for chapter 11 bankruptcy protection to address a pending litigation with the Oregon affiliate of International Container Terminal Services Inc (ICTSI). The union cited financial constraints in defending against ICTSI's litigation tactics. The ILWU intends to use the bankruptcy process to resolve the matter and ensure the union can continue its work. The ILWU has over 4,000 members across the United States and Canada.

via Reuters|

#bankruptcy-protection #business #dockworkers