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LTV creditors pushing PBGC to settle case. (Pension Benefit Guaranty Corp.)
Crain's Cleveland Business, July, 1991 by Thompson, Chris
LTV creditors pushing PBGC to settle case NEW YORK -- While U.S. Bankruptcy Judge Burton Lifland said last week it might take "somebody from Mars" to settle the LTV Corp. bankruptcy, many creditors continue to put the burden on the shoulders of the Pension Benefit Guaranty Corp. In the wake of last Tuesday's Bankruptcy Court hearing here, creditors say that without major concessions by the federal pension agency, a resolution to the $6-billion, 5-year-old bankruptcy will be as far away as ever.
At the hearing, which accomplished little, Judge Lifland put the agency on the hot seat, urging it to act in the public interest and negotiate a "good faith" settlement over the fate of four pension plans for workers at LTV's steel subsidiary. Those pension...
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