US - The Pension Benefits Guaranty Corp (PBGC), believed to be US$22.8bn in deficit, has assumed $31m in pension liabilities on behalf of Falcon Products and subsidiary Shelby Williams.
The PBGC said it would assume some $31.6m of the $33m shortfall on behalf of the companies, which cover 2300 workers and retirees and filed for bankruptcy protection in January, 2005. The companie...
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