On July 13, 2010, in a controversial decision, the U.S. Court of Appeals for the Third Circuit ruled that a debtor must comply with the stringent procedural and substantive requirements of 11 U.S.C. ' 1114 (“Section 1114″) to terminate retiree health and welfare benefits that the debtor contractually retained the right to modify at will (referred to in this article as “amendable benefits”).
Contractually Amendable Retiree Health and Welfare Benefits
In a controversial decision, the Third Circuit has ruled that a debtor must comply with the stringent procedural and substantive requirements of 11 U.S.C. ' 1114 to terminate retiree health and welfare benefits that the debtor contractually retained the right to modify at will.
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Marshall S. Huebner And Brian M. ResnickThis premium content is locked for The Bankruptcy Strategist subscribers only
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