Workflow Management, PBGC agreement would terminate pension plan

By Lisa Kerner

Charlotte, N.C., March 2 - Workflow Management, Inc. asked the court to authorize certain debtors to enter into a March 1 agreement with the Pension Benefit Guaranty Corp., according to a Wednesday filing with the U.S. Bankruptcy Court for the Eastern District of Virginia.

The agreement is for the termination of the Relizon Co. retirement plan as of Feb. 18 and the appointment of PBGC as trustee of the pension plan in order to relieve the debtors "from the distractions posed by the complex and time-consuming district court action" begun by PBGC to terminate the pension plan, the filing said.

Also, the agreement "will allow the debtors to move forward unimpeded in the administration of their Chapter 11 cases."

Workflow Management's third amended joint Chapter 11 plan of reorganization was confirmed on Feb. 25.

Workflow Management, a Dayton, Ohio-based provider of end-to-end business management outsourcing services to commercial customers, filed for bankruptcy on Sept. 29, 2010. The Chapter 11 case number is 10-74617.

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