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Simple English definitions for legal terms

faltering-company exception

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A quick definition of faltering-company exception:

Faltering-Company Exception: A rule that says a company doesn't have to give its employees 60 days' notice before shutting down if the company was trying to get money or resources to avoid the shutdown, and if the company thought that giving notice would make it harder to get that money or resources. This rule is part of the Worker Adjustment and Retraining Notification Act.

A more thorough explanation:

The faltering-company exception is a provision in the Worker Adjustment and Retraining Notification Act that allows an employer to avoid giving the required 60-day notice for a plant shutdown under certain circumstances.

To qualify for the exception, the employer must meet two conditions:

  1. At the time the notice was due, the employer was seeking capital or resources that would have allowed them to avoid a shutdown.
  2. The employer reasonably believed that providing the notice would have prevented them from obtaining the necessary capital or resources.

For example, if a company is struggling financially and is actively seeking investors or loans to keep the business afloat, they may be able to use the faltering-company exception to avoid giving their employees 60 days' notice of a plant shutdown. However, if the company has already secured the necessary funding or resources, they would not be eligible for the exception.

The faltering-company exception is intended to provide some flexibility for struggling businesses that are trying to avoid layoffs or closures. However, it is important to note that it is not a blanket exemption and must be applied on a case-by-case basis.

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18:49
thank you my little crow friend
Dkk
18:50
Med law easy done
medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
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