Legal Question in Bankruptcy in Pennsylvania

My Co has filed Chapter 11, Do I need to file something to get my pension?

Asked on 12/19/12, 11:38 am

1 Answer from Attorneys

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By "co" I assume you are referring to "company."

A chapter 11 is a type of bankruptcy only available to corporations (and high net worth/high debts individuals). In a chapter 11, the company seeks to restructure its debts. I don't know what the company plans to do with its pension, but I don't know of anything that you can file to get your pension. Workers and pension benefits should be in a more protected class than ordinary unsecured creditors. If the pension is totally phased out or something, then maybe you can file a claim with the Pension Benefit Guaranty Corp., which is a part of the federal government. Check out the FAQ on their site for more info about bankruptcy:

http://www.pbgc.gov/about/faq/pg/general-faqs-about-pbgc.html

I

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12/27/12, 4:06 pm

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