PBGC Still Mulling Delta's $913M Pension Tab

Law360, New York (September 11, 2006, 12:00 AM EDT) -- The U.S. Pension Benefit Guaranty Corporation (PBGC) is still mulling over whether or not to shoulder the $913 million burden that could come its way from Delta Air Lines' jettisoned pilots pension plan, a PBGC spokesman said Monday.

“The PBGC will continue its financial and legal review of the case,” said PBGC representative Jeffery Speicher. “The PBGC must complete the rest of that review.”

While the bankruptcy court in charge of Delta’s Chapter 11 case has determined that the airline can’t emerge from bankruptcy without shedding...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.