The Nation - News from June 24, 1987
The Senate Judiciary Committee approved a bill designed to protect the health benefits of retired workers whose companies enter bankruptcy proceedings. With little discussion, the committee sent the measure to the full Senate by voice vote, pending the resolution of some technical matters by committee staff members. Sen. Howard M. Metzenbaum (D-Ohio) introduced the legislation in response to a move by the Dallas-based LTV Corp., which suspended medical and life insurance benefits to its retirees last July 17 when it filed for protection from creditors.
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