Dana Shells Out $5.2M In Pension Payment

Law360, New York (April 11, 2007, 12:00 AM EDT) -- Still wrangling with its union employees over pension benefits, Dana Corp. has been ordered to fork over $5.2 million to the company's nonunion workers' pension plan by April 13.

On Tuesday, U.S. Bankruptcy Court Judge Burton Lifland signed off on an agreement between Dana and its unions requiring Dana to make the payment to the defined benefit program covering certain employees.

The order also stipulates that Dana make a separate pension payment of $487,000 stemming from the February sale of its engine parts business to Germany's...
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