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PBGC Tells Lehman Creditors To Butt Out

Law360 (December 30, 2008, 12:00 AM EST) -- The U.S. Pension Benefit Guaranty Corp. is fighting back against attempts by the Lehman Brothers Holdings Inc.'s unsecured creditors committee to intervene in the dispute over whether the government-backed insurer can end the investment giant's pension plan.

On Monday, the PBGC filed a motion to strike the joinder recently brought by the official committee of unsecured creditors, who were supporting Lehman's opposition to the PBGC's order to show cause for why the pension plan should not be scrapped.

“Even if the creditors committee were to move...
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