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PBGC Gets Green Light to Seek Assets from Former Plan Sponsor
Pensions & Investments 
Dec. 2, 2019 "The [PBGC] can go after the owner of a company that took more than two decades to shut down its pension plan ... Liberty Lighting began liquidating in 1991 but never informed the PBGC. Following the company's dissolution, owner Joseph Wortley filed for personal bankruptcy. Pension benefits were paid until plan assets were depleted, and the plan was terminated in July 2012[.]" [PBGC v. 20 SE 3rd St LLC, No. 18-81009 (S.D. Fla. Nov. 22, 2019)] MORE >> |
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