Tropical Sportswear asks court to estimate PBGC claim

By Caroline Salls

Pittsburgh, May 25 - Tropical Sportswear International Corp. asked the U.S. Bankruptcy Court for the Middle District of Florida to estimate the claim of The Pension Benefit Guaranty Corp. in connection with distributions under Tropical's plan of liquidation, according to a Wednesday filing.

Although PBGC has not filed a claim, Tropical believes it will terminate Savane International Corp.'s Bargaining Unit Pension Plan and as a result file a $5.42 million claim.

Tropical asked the court to schedule a hearing on the estimation request by June 25.

Tropical, based in Tampa, Fla., filed for bankruptcy on Dec. 16, 2004. Its Chapter 11 case number is 04-24134.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.