Oneida Pension Ruling Could Spur Backlash

Law360, New York (March 3, 2010, 8:03 PM EST) -- Pension Benefit Guaranty Corp. officials have high hopes that a recent U.S. Court of Appeals for the Second Circuit decision will help dissuade bankrupt companies from terminating pension plans, but some attorneys warn that the ruling may have unintended consequences.

The U.S. Supreme Court declined in December to take up flatware maker Oneida Ltd.'s appeal, letting stand a controversial decision that bars companies in bankruptcy protection from discharging the fees imposed if they choose to dump their pension plans.

The ruling could be a game-changer for...
To view the full article, register now.