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Workers demanding money from bankrupt bus company

Date Posted: 2006-06-23

Ryukyu Bus Company is bankrupt, but workers at the defunct company are demanding money from the company that bought the Okinawa company.

Daiichi Vehicles Industry, a mainland Japanese company, bought the Ryukyu Bus Company after it folded last year, with an understanding it wasn’t responsible for pension money for Ryukyu’s retired workers. The bankruptcy agreement called for Ryukyu to pay about 15-20% of the money due the nine retired workers.

The workers didn’t like the deal, and petitioned the court for more money. The Naha Court this week told Ryukyu Bus Company to cough up Y90,000,000 for the nine workers.

“We now we got the judgment,” a Ryukyu official says, “but it will be impossible. There are another 100 retired workers and the company will give them retirement too.” Already, another 11 retired workers are demanding Y100,000,000, rather than the lesser amount they were assured of getting by the bus company.

Ryukyu officials say the agreement with Daiichi Vehicles Industry freed the new operator from any responsibility for paying pensions. The Ryukyu spokesman says his company may not pay anybody anything, because of the company’s financial situation that led to the bankruptcy.

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