An employer’s bankruptcy filing can significantly impact an employee’s agreements with the debtor. While a reorganizing debtor may agree to continue honoring its obligations under employment agreements, the Bankruptcy Code gives a debtor broad powers that may allow significant changes to an employee’s bargained-for rights. This article discusses how employment contracts and noncompete agreements may be affected during a bankruptcy case.
Troutman Pepper Locke's Creditor’s Rights Toolkit is a series that provides practical insights to help creditors confront the challenges of commercial bankruptcy.
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