Delta Says Worker's $100M ERISA Claim Not Priority

Law360, New York (March 17, 2010, 5:32 PM EDT) -- A former Delta Air Lines Inc. employee's $100 million class claim over alleged mismanagement of the airline's retirement plan arose from a securities purchase and should therefore be subordinated, Delta has argued, firing back at its ex-worker's bankruptcy appeal.

Delta filed a brief Tuesday in the U.S. District Court for the Southern District of New York asking a judge to affirm the bankruptcy court's order subordinating the claim submitted by Dennis Smith, a participant in the Delta family care savings plan and would-be representative of a...
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