Pension Insurance Fund Loses Court Round: The...
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From Times Staff and Wire Reports
Pension Insurance Fund Loses Court Round: The federal pension insurance fund’s $2.2-billion claim against Dallas-based LTV Corp. should be reduced, according to a ruling by a federal judge in New York who also rejected an effort by the fund, the Pension Benefit Guaranty Corp., to push its claim ahead of others in the company’s bankruptcy case. The decision could cost the PBGC more than $1 billion if the agency also loses a related case before the U.S. Supreme Court.
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