Revstone Parent Blasts Deal Over $95M In Pension Claims

Law360, Wilmington (March 13, 2014, 6:52 PM ET) -- The nondebtor parent for bankrupt auto parts conglomerate  Revstone Industries LLC on Thursday blasted a proposed settlement the company struck with the Pension Benefit Guaranty Corp. to resolve more than $95 million in pension-related claims, arguing the debtor is raising the white flag with regard to the agency's claims.

In a motion before the Delaware bankruptcy court, Ascalon Enterprises LLC argues that the debtors in the Revstone family of cases should object to the PBGC's claims, contending that move would result in an allowed claim for...
To view the full article, register now.