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.' i <br />.~ <br /> <br />9. Debtors in these cases cannot propose a viabl=_ plan <br />of reorganization without first having their pension plan <br />ter-:inated. Also, at the present time, Debtors believe that the <br />best alternative for a plan of reorganization in these cases will <br />include an arrangement with an investor able to provide a <br />substantial investment of capital needed to ensure Debtors' <br />continued competitive position as a manufacturer of steel <br />products. <br />10. The time needed to terminate Debtors' pension plan <br />:gill exceed the initial 120-day period in these cases. <br />a. Under ERISA, a voluntary plan termination is not <br />permitted if such a termination would violate the terms cf a <br />currently applicable collective bargaining agreement. 29 U.S.C. <br />§ 1341(a)(3). Termination of Debtors' pension plan would., for <br />example, violate the collective bargaining agreement witY.~ the <br />United Steelworkers of America (the "USWA"). Debtors care either <br />attempt to bargain for a modification of this agreement or force <br />a modification under 11 U.S.C. § 1113. But modification of the <br />collective bargaining agreement under 11 U.S.C. § 1113 in itself <br />would require Debtors to go through a bargaining process <br />including making a proposal based on "the most complete wind <br />reliable information" and providing "for those modifications in <br />the employees' benefits and protections that are necessary to <br />permit the reorganization of the debtor" and assuring than all <br />creditors, the debtor, and all affected parties "are treated <br />fairly and e3uitably." Debtors would have to show that i:hey <br />bargained with the applicable unions in good faith and that the <br />4 <br />