UK Pension Issue Stalls Reader's Digest Ch. 11 Exit

Law360, New York (February 1, 2010, 3:55 PM EST) -- The Reader's Digest Association Inc. said Monday it had decided to temporarily delay its emergence from Chapter 11 to address its U.K. unit's pension fund deficit.

In court documents filed Monday in the U.S. Bankruptcy Court for the Southern District of New York, Reader's Digest said it had received notice that the U.K. Pensions Regulator had refused to sign off on an agreement with the trustees of RDA U.K.'s pension plan and the U.K. Pension Protection Fund.

The bankruptcy court in January entered an order authorizing...
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