State to intervene in CCT bankruptcy



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New Hampshire Labor Commissioner George Copadis and Senior Assistant Attorney General Peter Roth will appear in a bankruptcy court in Delaware on Friday as part of the state’s effort to recoup wages and benefits owed to more than 500 workers of the closed Car Component Technologies plants in Bedford and Merrimack. "By closing its doors without any warning to employees, this company acted irresponsibly. As a state, we are taking every action we can to help protect the rights of CCT workers," Gov. John Lynch said in announcing the planned trip by Copadis and Roth. At the court, Copadis and Roth said they will object to motions filed by CCT's parent company, American Remanufacturers Inc., to approve the sales of the company's assets and a motion to approve a settlement with some of the company's creditors. "Attorney General Roth and I will intervene on behalf of the CCT workers, and we will point out that workers claims are many times the miniscule amount the company has set aside," said Copadis. According to the state’s court claim, "the reason for this objection is to protect the rights of the former employees ... with respect to certain wage claims, 401(K) related claims, accrued but unused vacation time claims, and WARN Act claims." Copadis said he was particularly upset that court papers indicate that while only $500,000 has been set aside to address the claims of 1,500 employees nationwide, the trustee representing the parent company could collect a $300,000 commission for participation in the hearing.

 

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