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PBGC Reaches Pension Settlement
:down: UT
Under the terms of the agreement, which must still be approved by the bankruptcy court overseeing UAL’s restructuring, the PBGC would terminate and become trustee of the company’s four pension plans and the agency’s claims against the company would be settled. The PBGC and its financial advisers believe the settlement is superior to the recovery the agency would have received as an unsecured creditor in bankruptcy.
:down: UT