Former Pemco's settlement of Pension Benefit Guaranty claims approved

By Jim Witters

Wilmington, Del., April 19 - WAS Services, Inc., formerly Pemco World Air Services, Inc., received approval for a stipulated settlement with the Pension Benefit Guaranty Corp., according to an April 19 filing with the U.S. Bankruptcy Court for the District of Delaware.

Under the stipulation, the PBGC will receive an allowed administrative expense claim of $446,138 and an allowed general unsecured claim of $33.2 million.

Tampa, Fla.-based former Pemco performs large jet maintenance and repair services. It filed for bankruptcy on March 6, 2012 under Chapter 11 case number 12-10799.

© 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.