Judge Denies Retired Pilots’ Appeal Over Pension

Law360, New York (December 12, 2006, 12:00 AM EST) -- Dismissing the objections of a group of retired pilots, a federal judge has upheld an earlier bankruptcy order allowing Delta Air Lines Inc. to terminate its pilots’ pension plan.

On Monday, U.S. District Judge Denise Cote overruled 223 retired pilots by backing a September decision that found Delta met the requirements necessary to terminate the plan.

By not ending the plan, U.S. Bankruptcy Judge Hardin found, Delta wouldn’t be able to get the exit financing necessary to emerge from Chapter 11; couldn’t submit a feasible restructuring...
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