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Delphi And The Modification Of Retiree Benefits

Law360 (April 24, 2009, 12:00 AM EDT) -- The Honorable Robert D. Drain of the U.S. Bankruptcy Court for the Southern District of New York recently addressed the applicability of Section 1114 of the Bankruptcy Code in the context of the Delphi Corp. bankruptcy proceeding.

This ruling is significant, not only because it points to an issue that has divided the courts over how and whether companies can alter retiree benefits plans after filing for Chapter 11, but also given the current state of the auto industry.

One of the most significant labor costs...
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