Visteon's Impact On Debtors' Ability To Cancel Benefits

Law360, New York (August 20, 2010, 3:15 PM EDT) -- As companies struggle to survive in a distressed economy, one of the main drags on earnings and profitability are the enormous unfunded legacy costs to employees and retirees. Escalating legacy costs attributable to employee pension plans and retiree benefits — primarily agreements to provide health insurance — have been identified as a precipitating factor in numerous high-profile Chapter 11 cases as companies seek to reap the benefits of the Bankruptcy Code to reduce or eliminate those liabilities from their balance sheets.

In response to earlier bankruptcy...
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.