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Briggs & Stratton Scraps Retiree Medical Benefits in Bankruptcy
The Wall Street Journal; subscription may be required July 22, 2020 "[T]he day before the [company] filed for chapter 11 bankruptcy protection, Briggs & Stratton's board voted to terminate health benefits for 450 former workers and end life-insurance protection for 4,000 former workers, effective as of the end of August.... The company is seeking a court order saying it was justified in terminating the benefits, despite bankruptcy-code provisions that limit the rights of troubled companies to strip retirees of benefits." |
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