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<br />4 4971(e)(2) (penalty excise taxes); 29 U.S.C. § 1362 (a) (pension <br />plan termination liability). Because by statute Debtors are <br />jointly and severally liable for these obligations, there will be <br />no questions in these eases concerning apportionment of pension <br />liabilities among their estates. <br />(2) Debtors are unable to continue to fund <br />the pension obligations for which they are jointly and severally <br />liable, including contributions in the approximate amounts of 512 <br />million due in September 1990 and $1.8 million due in October, <br />1990, and not paid. <br />(3) Debtors' reorganization cases under <br />Chapter 11 were Tiled in order to prevent the destruction of <br />their businesses through the accrual and enforcement of pension <br />obligations and related penalty excise taxes. If not protected <br />by the automatic stay in bankruptcy, Debtors' assets are subject <br />to statutory liens for pension related obligations, ggg 26 U.S.C. <br />412(n)(1) (statutory lien for unpaid pension contributions); 29 <br />U.S.C. § 1368(x) (statutory lien foz pension plan termination <br />liability) as well as judgment and execution liens for such <br />obligations. <br />(4) 7lside from their pension obligations and <br />such debts as will not be paid as of the petition Dnta solely as <br />a recult o! filing their Chapter 11 petitions herein, Debtors are <br />and have been generally current in their payments of a majority <br />o! their other debts and in the perlormance o! theiz other <br />financial obligations. <br />7 <br />