Termination Premiums Under ERISA Held to Be Dischargeable Prepetition Claims

In a matter of first impression, the United States Bankruptcy Court for the Southern District of New York held that the termination premiums assessed against Oneida Ltd. ('Oneida') as a result of the termination of one of Oneida's pension plans during its Chapter 11 case were prepetition 'claims' (as defined in ' 101(5) of title 11 of the United States Code (the 'Bankruptcy Code')) that were discharged under Oneida's confirmed plan of reorganization.

13 minute read April 25, 2008 at 08:28 AM
By
William J.f. Roll, III, Michael H. Torkin And Solomon J. Noh
Termination Premiums Under ERISA Held to Be Dischargeable Prepetition Claims

In a matter of first impression, the United States Bankruptcy Court for the Southern District of New York held that the termination premiums assessed against Oneida Ltd.

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