Issue link: https://mbozikis.ufcontent.com/i/1422521
136 in determining whether a balancing of the equities exists in the context of Section 1113(c), a court will consider: (1) the likelihood and consequences of liquidation if rejection is not permitted; (2) the likely reduction in the value of creditors' claims if the bargaining agreement remains in force; (3) the likelihood and consequences of a strike if the bargaining agreement is voided; (4) the possibility and likely effect of any employee claims for breach of contract if rejection is approved; (5) the cost-spreading abilities of the various parties, taking into account the number of employees covered by the bargaining agreement and how various employees' wages and benefits compare to those of others in the industry; and (6) the good or bad faith of the parties in dealing with the debtor's financial dilemma. Truck Drivers Local 807 v. Carey Transp. Inc., 816 F.2d 82, 93 (2d Cir. 1987) (citing Bildisco, 465 U.S. at 525–26). Once the trustee has filed an application to reject a collective bargaining agreement, the court must hold a hearing on such application by no later than fourteen days after the date of filing of the application. 11 U.S.C. § 1113(d)(1). At least ten days' notice of the hearing must be provided to all interested parties, all of whom are entitled to appear and be heard at such hearing. Id. Where the circumstances of the case and the interests of justice require an extension for the commencement of the hearing on the rejection application, the court may extend the time by no more than seven days unless the trustee and employee representative agree to additional extensions. Id. The court must rule on the rejection application within thirty days of the commencement of the hearing unless the court, in the interests of justice, extends the time for ruling by such additional time period as to which the trustee and the employee representative