Teamsters Funds Fight US Concrete Ch. 11 Plan

Law360, New York (July 9, 2010, 12:46 PM EDT) -- Two union pension funds are fighting U.S. Concrete Inc.'s Chapter 11 plan of reorganization, contending that the ready-mix concrete company improperly discharged withdrawal liability to the multiemployer pension plans.

Teamsters Local 641 Pension Fund and Local 734 Pension Fund contended in the U.S. Bankruptcy Court for the District of Delaware on Wednesday that U.S. Concrete can't discharge withdrawal liability because it hasn't withdrawn from the funds.

The funds pointed to case law on the withdrawal liability issue, saying that the judge overseeing In the Matter of...
To view the full article, register now.