PBGC Fights To Protect Filene's Pension Plan

Law360, New York (June 2, 2009, 12:00 AM EDT) -- Concerned about the pension benefits of Filene’s Basement Inc.’s employees, the U.S. government has asked a bankruptcy court to make sure that the approaching sale of the retailer’s assets preserves pension plan-related liabilities.

The Pension Benefit Guaranty Corp. on Tuesday lodged a limited objection to the proposed sale in the U.S. Bankruptcy Court for the District of Delaware in order to prevent potential nondebtor members of Filene’s controlled group from evading liability, should the agency take over the plan.

While the PBGC has not yet identified...
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