Issue link: https://mbozikis.ufcontent.com/i/1422521
135 bargaining agreements only in accordance with the provisions of Section 1113. 11 U.S.C. § 1113(a). Subsequent to the petition date and prior to filing an application to reject a collective bargaining agreement, the trustee must make a proposal, based on the most complete and reliable information available at the time of such proposal, to an authorized representative of the employees covered by such agreement that (i) provides for those modifications to the employee benefits and protections that are necessary to the debtor's reorganization and (ii) assures that all creditors, the debtor and all of the affected parties are treated fairly and equitably. 11 U.S.C. § 1113(b)(1)(A). The trustee is required to provide the employee representative with such relevant information as is necessary for the representative to evaluate the proposal. 11 U.S.C. § 1113(b)(1)(B). In addition, during the period between submitting the proposal to the employee representative and filing an application to reject the collective bargaining agreement with the court, the trustee must meet with the employee representative at reasonable times to confer in good faith regarding mutually acceptable modifications to such agreement. 11 U.S.C. § 1113(b)(2). The court shall only approve an application to reject a collective bargaining agreement if (i) the trustee has made a proposal that complies with the requirements described in the preceding paragraph, (ii) the employee representative has rejected such proposal without good cause, and (iii) the balance of the equities clearly favors rejection of such agreement. 11 U.S.C. § 1113(c). The third prong described in the preceding paragraph codifies the standard for rejecting a collective bargaining agreement as articulated by the U.S. Supreme Court in NLRB v. Bildisco & Bildisco, 465 U.S. 513 (1984). The "balance of the equities" standard is more stringent than the business judgment rule (discussed above at Chapter VI.C.2.), which is the standard courts apply to most decisions to assume or reject a contract. Generally,