Robert Besser
04 Oct 2023, 11:05 GMT+10
SAN FRANCISCO, California: To resolve a pending litigation with the Oregon affiliate of the International Container Terminal Services Inc (ICTSI), the International Longshore and Warehouse Union (ILWU), which represents U.S. dockworkers, has filed for chapter 11 bankruptcy protection.
A September 30 filing in a San Francisco court showed that the union's total assets and liabilities are in the US$1 million to $10 million range.
Willie Adams, International President of the ILWU, said, "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."
"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.
In a statement, the ICTSI said the bankruptcy filing was the union's "latest maneuver to avoid accountability."
The Wall Street Journal (WSJ) reported that the union is alleged to have illegally slowed down operations over several years at the Port of Portland, then operated by an affiliate of a Philippines-based maritime company.
The ILWU, representing more than 4,000 American and Canadian members, said that to maintain its cash management system under its reorganization process, it will file customary "First Day" motions with the court.
In August, the union approved a six-year contract for 22,000 U.S. dockworkers at 29 ports stretching from California to Washington State.
Get a daily dose of San Diego Sun news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to San Diego Sun.
More InformationSAN FRANCISCO, California: Just weeks after California banned its self-driving vehicles from public roads after an accident last month, Cruise, ...
(Photo credit: Gary A. Vasquez-USA TODAY Sports) Tom Wilson celebrated his 700th NHL game with his first career hat trick ...
(Photo credit: Gary A. Vasquez-USA TODAY Sports) Tom Wilson celebrated his 700th NHL game with his first career hat trick ...
Taipei's top official said international support is ?as solid as it has ever been?The government in Beijing is too "overwhelmed" ...
(Photo credit: Bob Frid-USA TODAY Sports) Jack Eichel finished with a goal and two assists and Ivan Barbashev had a ...
(Photo credit: Kelley L Cox-USA TODAY Sports) Stephen Curry had a team-high 26 points, Jonathan Kuminga led a difference-making bench ...
LONDON - Health experts and tobacco campaigners have strongly criticized New Zealand's decision to repeal laws that aimed to ban ...
NEW YORK, New York - The Dow Jones index was the standout on U.S. financial markets on Thursday with a ...
WASHINGTON D.C.: Despite the ongoing economic uncertainty, major discounts during the Thanksgiving weekend enticed U.S. shoppers, who spent some US$38 ...
BANGKOK, Thailand: This week, Thailand's Deputy Finance Minister Krisada Chinavicharana said after a weaker-than-expected third quarter, the country will downgrade ...
BEIJING, China: The country's commerce ministry said that during a meeting with Vietnamese Prime Minister Pham Minh Chinh in Ho ...
NEW YORK, New York - Retreating bond yields and a higher-then-expected GDP reading for the third quarter boosted U.S. stocks ...