Ruling on Visteon retiree benefits overturned
Bankruptcy
A federal appeals court has overturned rulings allowing auto parts supplier Visteon Corp. to terminate its retirees' health and life insurance benefits.
In a ruling Tuesday, the appeals court in Philadelphia sided with attorneys representing some 2,100 retirees from two Visteon manufacturing plants in Indiana.
A Delaware bankruptcy judge concluded in March that the retirees did not have vested rights in the benefits, and that Van Buren Township, Mich.-based Visteon could terminate them unilaterally. That decision was upheld by a federal district court judge in Delaware.
But the appeals court agreed with the retirees that Congress, through the bankruptcy code, intended to restrict a debtor's ability to modify or terminate retiree benefits during a Chapter 11 case, regardless of whether it could terminate those benefits outside of bankruptcy.
Related listings
-
BP has options before bankruptcy, lawyers say
Bankruptcy 06/30/2010BP PLC has several options to explore in dealing with the worst environment disaster in U.S. history, but the oil giant may file for bankruptcy if it faces a never-ending flow of claims, lawyers and bankers said Tuesday. "BP has many options besides ...
-
Bankruptcy judge approves Visteon disclosure plan
Bankruptcy 06/28/2010A Delaware bankruptcy court judge on Friday cleared the way for auto parts supplier Visteon Corp. to begin soliciting votes on its proposed reorganization plan, which would leave unsecured bond holders in control of the company.Overruling objections ...
-
FDIC, WaMu reach agreement on bankruptcy plan
Bankruptcy 05/22/2010The FDIC said on Friday the agreement settles claims between the bankrupt bank's holding company and JPMorgan Chase, which acquired the failed bank.The FDIC is involved because it was appointed receiver of Washington Mutual in September 2008, during ...
Victorville CA DUI defense Attorneys
The outcome of a DUI defense will have a long-term effect on anyone’s life, making the decision to receive legal representation an easy one. The fact is, most people accused of a DUI are first offenders with no criminal background. Whether this is your first run in with the law or you have had previous convictions, you are in need of a DUI defense attorney.
The charges you are facing for a DUI range from fines, a 12-month suspension on your license and worst-case scenario, prison time. Your attorney will be able to analyze your situation to decide the best way to go about your case.
Our attorneys know the tricky ways to challenge all of the DUI tests and know how to claim improper collection of evidence. We will be able to negotiate on your behalf and free you from charges and help you keep your drivers license. The DUI process can last up to several months, we can make this process easier on you. .