Case Study: In Re Visteon Corp.

Law360, New York (August 12, 2010, 12:36 PM EDT) -- In a recent and monumental holding in the bankruptcy proceedings of Visteon Corporation, IUE-CWA v. Visteon Corp. (In re Visteon Corp.), the Third Circuit Court of Appeals provided retired benefit recipients stronger leverage and additional protections than those previously recognized by a majority of courts.

On July 13, 2010, the Third Circuit ruled that, under the Bankruptcy Code, § 1114, during the limited period of a bankruptcy proceeding, a debtor cannot modify any retiree benefits, even if the debtor would not otherwise be obligated to continue...
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