PENSION BEN. GUAR. CORP. v. LTV CORP.

No. 87 Civ. 7261 (RWS).

122 B.R. 863 (1990)

PENSION BENEFIT GUARANTY CORPORATION, Plaintiff, David H. Miller and William W. Shaffer, Intervenors, v. The LTV CORPORATION, and LTV Steel Company, Inc., Defendants.

United States District Court, S.D. New York.

December 4, 1990.


Attorney(s) appearing for the Case

Pension Benefit Guar. Corp. (Carol Connor Flowe, General Counsel, Jeanne K. Beck, Deputy General Counsel, James J. Armbruster, Asst. General Counsel, Paula J. Connelly, of counsel), Washington, D.C., Cleary, Gottlieb, Steen & Hamilton (George Weisz, of counsel) New York City, for plaintiff.

Buchanan Ingersoll, P.C. (R.A. King, Kenneth R. Bruce, of counsel), Pittsburgh, Pa., Mound, Cotton & Wollan (Stuart Cotton, of counsel), New York City, for David H. Miller and William H. Shaffer.

Stroock & Stroock & Lavan (Brian M. Cogan, of counsel), Wachtell, Lipton, Rosen & Katz (Harold Novikoff, of counsel), New York City, for the Official Committee of Unsecured Creditors of the LTV Steel Co., Inc.

Blank, Rome, Comisky & McCauley (Thomas E. Biron, Raymond L. Shapiro, William E. Taylor, III, Regina Stango Kelbon, of counsel), Philadelphia, Pa., for the Subcommittee of Parent Creditors of the Official Committee of Unsecured Creditors of the LTV Corp.

Warshaw, Burstein, Cohen, Schlesinger & Kuh (Martin Lee, of counsel), New York City, for The Official Committee of Equity Sec. Holders.

O'Melveny & Myers (Robert Hayes, of counsel), New York City, for the Unofficial Bank Committee.

Davis, Polk & Wardwell (Lewis B. Kaden, Karen E. Wagner, of counsel) Kaye, Scholer, Fierman, Hays & Handler (Michael J. Crames, of counsel), New York City, Leboeuf, Lamb, Leiby & Macrae (Frank Cummings, of counsel), Washington, D.C., for defendants.


SWEET, District Judge.

On remand from the Supreme Court, plaintiff Pension Benefit Guaranty Corporation ("PBGC") moves for entry of judgment in its favor, restoring the administration of three retirement plans to defendants LTV Corporation and LTV Steel Company (collectively "LTV"). LTV opposes entry of the restoration order as it applies to one of the plans, asserting that the plan is out of money and will require immediate determination. LTV also crossmoves for...

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