<Li> Faltering company: When, before a plant closing, a company is actively seeking capital or business and reasonably, in good faith, believes that advance notice would preclude its ability to obtain such capital or business, and this new capital or business would allow the employer to avoid or postpone the shutdown for a reasonable period; </Li> <Li> Unforeseeable business circumstances: When the closing or mass layoff is caused by business circumstances that were not reasonably foreseeable at the time that the 60 - day notice would have been required (i.e., a business circumstance caused by some sudden, dramatic, and unexpected action (s) or condition (s) beyond the employer's control, such as a major order's unexpected cancellation); or </Li> <Li> Natural disaster: When a plant closing or mass layoff is the direct result of a natural disaster such as a flood, an earthquake, a drought, a storm, a tidal wave, or the similar effects of nature . In such cases, notice may be given after the event . </Li> <P> Exceptions are often claimed by employers in bankruptcy cases, and bankruptcy courts must often determine how the WARN Act applies . Generally, the WARN Act's requirements and penalties apply when an employer continues to run the business in bankruptcy, rather than close the business, and also when an employer plans a closing or mass layoff before filing bankruptcy . The WARN Act does not apply to a trustee in bankruptcy whose sole function is to close the business . </P>

Which of the following is not true of the worker adjustment and retraining notification act of 1988