Creditors Object To Milacron's Bid To Cut Benefits

Law360, New York (May 12, 2009, 12:00 AM EDT) -- A number of creditors representing employees of Milacron Inc., the bankrupt supplier of plastics-processing technologies and industrial fluids, have objected to the company's recent attempts to terminate employee benefit plans and provide loans to nondebtor affiliates.

In a series of objections filed Monday in the U.S. Bankruptcy Court for the Southern District of Ohio, the Milacron Retired Executive Group and the Pension Benefit Guaranty Corp. asked the court to consider arguments against Milacron's requests to terminate certain employee benefit plans and modify the court's previous order...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.