Retirees Seek TRO In Delphi, PBGC Deal Over Plans

Law360, New York (July 22, 2009, 1:37 PM EDT) -- The Pension Benefit Guaranty Corp. announced Wednesday it would take over the six pension plans covering 70,000 workers and retirees of bankrupt Delphi. Corp., one day after one of the plans asked a federal court to stop the auto parts supplier from negotiating with the agency because of an alleged conflict of interest.

In a motion for a temporary restraining order filed Tuesday in the U.S. District Court for the Eastern District of Michigan, the Delphi Salaried Retiree Association tried to block Delphi from reaching an...
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