PBGC Objects To Plans For Pacific Lumber Unit

Law360, New York (March 26, 2008, 12:00 AM EDT) -- The Pension Benefit Guaranty Corporation has lodged a formal objection to a slew of reorganization plans filed in the bankruptcy of Pacific Lumber Co. subsidiary Scotia Pacific Co. LLC, claiming that none of the documents adequately addresses the claims of the pension fund.

In a document filed Tuesday in the U.S. Bankruptcy Court for the Southern District of Texas, PBGC objected to the first amended Chapter 11 plan for Scopac, which was proposed by Bank of New York, the indenture trustee for the timber notes....
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