Hostess Pension Plans Attack Bankruptcy Settlement Offer

Law360, New York (October 25, 2012, 4:09 PM EDT) -- Two employee pension funds on Wednesday rebuffed a proposed settlement agreement spurred by Hostess Brands Inc.'s Chapter 11 reorganization, telling a New York bankruptcy court that the deal attempts to waive key claims that the funds maintain they won't surrender.

The Bakery and Sales Drivers Local Union No. 33 Industry Pension Fund and the Mid-Atlantic Regional Council of Carpenters’ Annuity Fund filed an objection to the proposed settlement, saying the agreement — which requires pension plans to waive their administrative and priority claims against Hostess in...
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