OSHA penalties up, but still below limits
Article Abstract:
The General Accounting Office (GAO) has published its 1989-1990 study of OSHA penalties. The average US business found guilty of an OSHA violation pays just $141.13 in penalties. OSHA's fines will probably continue to be less than those permitted by law as the agency routinely suggests fines well below the maximum and permits offenders to negotiate. The study examined 169,793 cases filed in fiscal year 1989 in which the fines were levied before Nov 1990. In only 52.2% of these cases was a penalty assessed.
Publication Name: The National Law Journal
Subject: Law
ISSN: 0162-7325
Year: 1992
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Insurer's workout is a test; professional fees come to $1 million a month
Article Abstract:
The bankruptcy of Mutual Benefit Life Insurance Co was primarily due to overinvestment in real estate. When the real estate market experienced a downturn, Mutual's ratings also fell and a run of withdrawals followed. Huge legal fees have been incurred in its rehabilitation. The restructuring is being handled in a New Jersey chancery court without case law or precedent. This is the first time such a large mutual insurer has been in rehabilitation.
Publication Name: The National Law Journal
Subject: Law
ISSN: 0162-7325
Year: 1992
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Retirees, companies collide; bankruptcies upset health benefit pacts
Article Abstract:
Many retired Americans find their health benefits threatened by their former employers' bankruptcies. Courts are faced with interpreting the Retiree Benefits Protection Act in these cases. The courts must decide if the claims of retirees are above those of creditors, if cuts in health insurance are justifiable in a reorganization, what level of benefits can be paid out during bankruptcy and what makes a health care agreement binding.
Publication Name: The National Law Journal
Subject: Law
ISSN: 0162-7325
Year: 1992
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