Thursday, 23 May 2019
BREAKING NEWS

Sears Wrongly Trying to End Retiree Life Insurance, US Says – Bloomberg Law

The corporate shell of Sears that was left in bankruptcy is trying to end life insurance for its retirees without seeking court approval, lawyers for the U.S. Labor Department say in court papers.

More than 80,000 retirees may have vested rights related to life insurance benefits, Labor’s Kate O’Scannlain says in a court filing May 8.

The department asks the judge overseeing the company’s wind-down to require Sears Holdings Corp. to provide creditors with more details about about how it…

Source: https://news.bloomberglaw.com/bankruptcy-law/sears-wrongly-trying-to-end-retiree-life-insurance-u-s-says

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