US - The debate over who should be responsible for bankrupt WCI Steel's US$117m pension deficit looks set to go to court after the Pension Benefit Guaranty Corporation (PBGC) filed suit to prevent the underfunded plan being shifted to the federal pension insurance programme.
The PBGC has claimed WCI’s corporate parent Renco Group should assume responsibility for the pension plan, which has $138m in assets to cover $255m in obligations to roughly 2 000 workers and retir...
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