Bankrupt Reichhold Unloads Underfunded Pension Plan on PBGC
(Bloomberg) — The Pension Benefit Guaranty Corp. is about to take over Reichhold Inc.’s retirement plan, which covers almost 4,500 current and former workers at the maker of polyester resins, saying it’s underfunded by $97.4 million. A bankruptcy judge in Delaware last month approved the sale of Reichhold’s business, partly in exchange for $46 million […]