PBGC Fights Lower Claim In Harry & David's Bankruptcy

Law360, New York (June 20, 2011, 1:50 PM EDT) -- The Pension Benefit Guaranty Corp. fought back Friday against Harry & David Holdings Inc.'s bid to have a Delaware bankruptcy court lower PBGC's anticipated $44 million claim over the proposed termination of the fruit basket seller's pension plan.

PBGC objected to the claim determination just one day after it challenged Harry & David's disclosure statement, saying the statement failed to explain why Harry & David met the standard for distress termination of its pension plan or how disputed claims in the company's bankruptcy would be processed....
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