State Street Objects To Delphi ERISA Settlement

Law360, New York (October 8, 2007, 12:00 AM EDT) -- State Street Bank & Trust Co., a defendant in the multidistrict ERISA case against bankrupt Delphi Corp., has opposed part of a settlement that was provisionally approved by a district court in September, claiming the settlement is unfair to the company as a non-settling defendant.

In an objection filed Friday in the U.S. District Court for the Eastern District of Michigan, State Street claimed the proposed settlement was unfair because it would not credit the company for an amount reflecting the settling defendants’ fault and would...
To view the full article, register now.