Labor & Economic News Blog
Thursday, September 15, 2005
Northwest's Timing Made U.S. an Unsecured CreditorBy MARY WILLIAMS WALSH
By filing for bankruptcy yesterday, Northwest Airlines expects to make the federal government an unsecured creditor for a $65 million contribution to its pension fund that was coming due today. Had Northwest delayed the filing by even one more day, the government would have had a stronger claim on the money.
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