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Werner Creditors, PBGC Bury The Hatchet

Law360 (October 9, 2007, 12:00 AM EDT) -- Werner Holding Co.'s unsecured creditors have hammered out a deal with the Pension Benefit Guaranty Corp. over the millions it wanted for the ladder maker's employees' pensions, with the committee acceding to the claims but knocking them down to nonpriority status.

Earlier in the bankruptcy, the creditors committee had objected to the federal agency's bid for funds, saying it didn't deserve the priority it was seeking in the pecking order of those the defunct ladder maker's owed.

But with the motion and proposed stipulation it filed...
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