Forbes: Teamsters Say Lenders Stalling IBC Reorganization

August 20, 2008: The International Brotherhood of Teamsters says lenders are holding up a potential plan for helping Interstate Bakeries Corp. exit almost four years of bankruptcy protection, endangering thousands of jobs.

In a news release, the Teamsters, who represent more than 9,500 Interstate Bakeries workers, singled out JPMorgan Chase Bank and hedge fund Monarch Alternative Capital for blocking the plan the union said it has negotiated with investor Ripplewood Holdings from moving forward.

Click here to read more at Forbes.

Get Advice Join TDU Donate

Recent News

If You Care About Who Wins the Teamster Election, Act Like It

The International Union election is make or break for our union. The outcome will be determined by Teamsters who have not mailed back their ballots yet. It’s up to each of us to talk to members and get out the vote.

Four Myths About the Teamster Election

If you want OZ-Teamsters United to win the election, don’t fall for these four myths.

View More News Posts