DC Circ. Denies Shutdown Benefits To Mine Co. Workers

Law360, New York (January 11, 2013, 8:42 PM EST) -- The D.C. Circuit on Friday upheld the Pension Benefit Guaranty Corp.'s denial of “shutdown” pension benefits to former employees of a bankrupt mining company, accepting the agency's determination that the company had temporarily, rather than permanently, shuttered a Minnesota plant.  

The appeals court held that although a finding in favor of the former workers at Eveleth Mines LLC's subsidiary Thunderbird Mining Co. who were seeking the shutdown benefits also could have been upheld as reasonable, the PBGC's decision not to guarantee the benefits was supported by...
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