Preservation of jobs and benefits

Chapter 11 of title 11, United States Code, is amended— (1) by inserting before section 1101 the following: 1100. Statement of purpose A case under this chapter involving a debtor that is not an individual shall have as its principal purpose the reorganization of its business to preserve going concern value to the maximum extent possible through the productive use of its assets and the preservation of jobs that will sustain productive economic activity.; (2) in section 1129— (A) in subsection (a), as amended by section 104 of this Act, by adding at the end the following: (18) If the plan contemplates continuation of the debtor's business, the proponent of the plan has demonstrated that the reorganization preserves going concern value to the maximum extent possible through the productive use of the assets of the debtor and preserves jobs that sustain productive economic activity.; and (B) in subsection (c)— (i) by inserting (1) after (c); and (ii) by striking the last sentence and inserting the following: (2) If the requirements of subsections (a) and (b) are met with respect to more than 1 plan, the court shall, in determining which plan to confirm— (A) consider the extent to which each plan would preserve going concern value through the productive use of the assets of the debtor and the preservation of jobs that sustain productive economic activity; and (B) confirm the plan that better serves such interests. (3) A plan that incorporates the terms of a settlement with a labor organization representing employees of the debtor shall presumptively constitute the plan that satisfies this subsection.; and (3) in the table of sections, by inserting before the item relating to section 1101 the following: 1100. Statement of purpose..