Steel Co. To Pay Pension Funds $4M In ERISA Suit

Law360, New York (April 20, 2009, 12:00 AM EDT) -- A bankrupt California construction company has been ordered to pay several pension funds for ironworkers nearly $4 million to resolve a suit alleging that the company failed to make required payments to the funds.

Judge Percy Anderson of the U.S. District Court for the Central District of California entered the judgment against NJR Steel Inc. and its president and sole shareholder, Nicolas Jimenez, on Friday. The parties had filed a joint stipulation for judgment earlier in the week.

The $3.97 million award represents unpaid fringe benefit...
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