PBGC Looks To Kill Lehman Pension Plan

Law360, New York (December 12, 2008, 12:00 AM EST) -- The U.S. Pension Benefit Guaranty Corp. has asked a bankruptcy court for approval to end Lehman Brothers Holdings Inc.'s pension plan, arguing that the move would protect the benefits of some 26,500 workers and retirees.

The agency filed a complaint Friday in the U.S. District Court for the Southern District of New York seeking an order for permission to terminate the plan and asking to be appointed as statutory trustee for the plan.

The move came in anticipation of a Dec. 22 hearing on the sale...
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