Delphi Continues To Underpay Pension Plan

Law360, New York (December 11, 2006, 12:00 AM EST) -- Embattled Delphi Corp. has gotten more than $1 billion behind in payments to its employees' pension plan since it filed for bankruptcy in 2005, according to the Pension Benefit Guaranty Corp.

Gary Pastorius, a spokesperson for the PBGC, said the amount is nearly $1.5 billion in unpaid employer contributions. The PBGC had filed a claim for $7.1 billion in underfunding in July.

The PBGC has filed claims for any funding contributions due and unpaid by the employer, and for unpaid insurance premiums. The PGBC is an...
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