When a Louisiana company acquires the assets of another, interested parties typically enter written agreements that define the responsibilities and obligations of all parties involved in the transition. For instance, back in 2001, American Airlines took over Trans World Airlines (TWA), and included in the employee contracts were certain protections that secured captain positions for a number of former TWA pilots. A serious contract dispute has flared after an arbitrator recently ruled that those protections have expired.
When Louisiana business people enter written agreements with other parties, they expect everyone involved to adhere to the terms, obligations and responsibilities contained therein. Business relationships often suffer if a breach of contract occurs. Rap music artist Kanye West is currently facing such challenges regarding his affiliation with Tidal music streaming company.