Oneida Throws Punch At PBGC Over Payments

Law360, New York (November 16, 2006, 12:00 AM EST) -- After emerging from bankruptcy two months ago, Oneida Ltd. has found itself locked in a battle with the Pension Benefit Guaranty Corp. over whether the battle-scarred flatware maker owes the government insurer a slew of payments for terminating its pension plans.

Oneida sued the PBGC on Wednesday in the U.S. Bankruptcy Court for the Southern District, arguing that it should not be held liable for various termination payments.

“There is a real and substantial controversy between plaintiff and defendant, and the adverse legal interests of the...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.