PBGC Fights Aleris' Plan Over $91M Claim Treatment

Law360, New York (March 9, 2010, 2:52 PM EST) -- The Pension Benefit Guaranty Corp. has lashed out at Aleris International Inc.'s reorganization plan, saying it doesn't adequately address $91.2 million in obligations and liabilities the government agency claims it is owed by the aluminum products and recycling firm.

In an objection launched Monday in the U.S. Bankruptcy Court for the District of Delaware, the PBGC said Aleris' disclosure statement, filed in February, fails to inform creditors of facts that may affect the value of their claims and the confirmability of the plan, which would see...
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