Kaiser Wins Bid To Void Multiple Pension Plans

Law360, New York (July 31, 2006, 12:00 AM EDT) -- When a Chapter 11 debtor seeks to void multiple pension plans at the same time under its reorganization test, a court can apply one test to all of the plans, according to a ruling filed last week in the U.S. District Court of Appeals for the Third Circuit.

Upholding a district court’s decision, Judge Marjorie O. Rendell found that a bankruptcy court in Delaware correctly used a single reorganization test that allowed Kaiser Aluminum Corp., an aerospace and automotive aluminum producer that emerged from Chapter 11...
To view the full article, register now.