Quebecor World seeks court approval to make $5.1 million past-due pension plan payment

By Caroline Salls

Pittsburgh, March 11 - Quebecor World Inc. requested court approval to make a $5.1 million past-due pension plan payment, as well as future plan contributions, according to a Monday filing with the U.S. Bankruptcy Court for the Southern District of New York.

In addition to the $5.1 million past due payment, Quebecor World said a $6.9 million 2007 final contribution payment will be due Sept. 15, 2008.

Pension plan payments for 2008 are expected to include $12.08 million due on April 15; a $157,097 payment due July 15; a $4.15 million payment due Oct. 15, 2008; a $5.46 million payment due Jan. 15, 2009; and a $3.91 million payment due Sept. 15, 2009.

The payments will be applied to six Quebecor World pension plans, including Quebecor World Pension Plan; Quebecor World Baird-Ward Inc. Retirement Plan; Quebecor World Mt. Morris II Inc. Employees' Pension Plan; Quebecor World Buffalo Inc. Retirement Plan for Hourly Employees; The Pension Plan for Hourly Employees of the Salem Gravure Division of Quebecor World (USA) Inc.; and Quebecor World Kingsport Inc. Pension Plan for Hourly Bargaining Unit Employees of Kingsport, Hawkins, Sherwood & Distribution.

A hearing is scheduled for March 20.

The Montreal-based printing and marketing company filed for Chapter 11 bankruptcy on Jan. 21 and filed for protection under the Companies' Creditors Arrangement Act in Canada. Its Chapter 11 case number is 08-10152.

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