Wolverine Tube Files Ch. 11 Plan After Pension Deal

Law360, New York (April 13, 2011, 7:03 PM EDT) -- Bankrupt copper tubing maker Wolverine Tube Inc. filed its first Chapter 11 joint plan for reorganization on Wednesday after reaching a settlement agreement with its pension plan manager the Pension Benefit Guaranty Corp.

Cash payments under the plan will be funded by, among other things, Wolverine’s business operations or the sale of assets, according to the proposed plan, filed in the U.S. Bankruptcy Court for the District of Delaware.

The settlement terms with PBCG will be incorporated into Wolverine's plan of reorganization and have the support...
To view the full article, register now.