Visteon Retirees Implore Court To Stop Pension Dump

By Richard Vanderford

Law360, New York (February 03, 2010, 2:00 PM ET) -- Visteon Corp. pension recipients will be devastated if the company is allowed to dump an estimated $544 million in obligations onto the Pension Benefit Guaranty Corp., retirees have said in a wave of objections filed in the auto parts maker's bankruptcy.

Dozens of retirees pleaded with Judge Christopher S. Sontchi of the U.S. Bankruptcy Court for the District of Delaware to spare their communities from potential dire economic consequences should Visteon's plans to shed its pensions go forward.

Visteon, a subsidiary of Ford Motor Co. until...
To view the full article, take a free trial now.

Already a subscriber? Click here to login

You must correct or enter the following before you can submit this form:

All fields required

  5. Required

Only Law360 gives you:

Non-stop coverage of high-stakes litigation across 30 practices

Real-time tracking and reports on 10,000+ companies, firms and industries

Over 80,000 attorney profiles with neutral data collected from active lawsuits

Research tools to find cases, court documents, attorneys and companies

Customized feeds and alerts that can easily be shared with colleagues

In-depth expert analysis from high-profile attorneys at top firms

Access to our vault with over 75,000 original articles