My Co has filed Chapter 11, Do I need to file something to get my pension?
1 Answer from Attorneys
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:
Related Questions & Answers
The home I live in I & my wife have a mortgage, my fathers home in a seperate... Asked 12/12/12, 5:30 pm in United States Pennsylvania Bankruptcy Law
I filed chapter 7 about 3 years ago. I kept making my mortage payments but the... Asked 8/23/12, 12:13 pm in United States Pennsylvania Bankruptcy Law