PBGC Moves To Take Over Milacron Retirement Plan

Law360, New York (June 11, 2009, 12:00 AM EDT) -- The Pension Benefit Guaranty Corp. is seeking court approval for the termination and takeover of bankrupt plastics and chemical maker Milacron Inc.'s retirement plan, which the pension guarantor says is underfunded by more than $300 million.

In a lawsuit filed Wednesday in the U.S. District Court for the Southern District of Ohio, the federal pension guarantor asked for a judgment declaring the PBGC the statutory trustee of the Milacron Retirement Plan effective June 10.

The complaint also calls for any documents or other information linked to...
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