Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

faltering-company exception

Read a random definition: dividend-credit rule

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.

falsus in uno doctrine | fama publica

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
sadperson4324
15:59
the magician is right
person4324
16:00
thank you
16:00
WOOOOOOOOOOOOOOOOOOOOOO
16:00
aweee what a good day this is
Applesaucer
16:00
WOOOOOOHOOOOOOOO
I’m out here healing ppl
fo pm miracle
16:29
fo p em
16:29
guys if I never chat again it is bc tornado got me
16:56
NOOO
is anyone else addicted to the uva law youtube videos
i think i just got into marquette law
late fo pm miracle?
this is crazy LMAO?
loyola why couldn't it be you
17:16
@badhorrormovie: !!! COngratzz
THANK u!!!!!!!!!
honestly considering just saying eff this cycle, retaking the lsat, switching jobs for a year and reapplying for 2026 start
back on linkedin premium wowza
i like the linkedin premium classes
taught myself excel on those
i gotta try those
haven't been making the most of my membership
anyone still waiting to hear back from bc today?
@badhorrormovie: congrats holy fuck!
NosyBeagle
18:19
@badhorrormovie: I knew you could do it! Good job!
18:50
unfortunately for chat, the tornado was unsuccessful in displaying me from this earth
19:56
damn
19:56
better luck next time
skill issue
LSD+ is ad-free, with DMs, discounts, case briefs & more.