Chemical Co. Brings Retiree Premium Fight To Supreme Court

Law360, New York (February 17, 2012, 6:30 PM ET) -- Sterling Chemicals Inc. asked the U.S. Supreme Court last week to find that it was allowed to raise premiums for a class of retired workers acquired in a merger because Sterling had rejected the merger contract during its Chapter 11 bankruptcy proceedings.

Sterling asked the high court on Feb. 10 to review the Fifth Circuit's October ruling that, while Sterling may have ended its obligations to Cytec Industries Inc. under a 1996 asset purchase agreement, the provision detailing benefits plans for former Cytec workers was assumed...
To view the full article, register now.