Will DFA will assume all liabilities like the over $800 million Central States pension liability? If so they really would be paying $1.225 billion?
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What about the dean Foods consolidated pension plan which is currently 123% funded?
The only underfunded ones are the multi employer ones that are through the teamsters.
The government won't secure the pensions in full. Probably get 40 cents on the dollar.
No, DF pension plans will be nullified by the bankruptcy court and DFA won't absorb them. Losses will be written off on the books of Pension Benefit Guaranty Corp. Its a government agency that is used to protect pension plans and when needed to absorb losses. Right now it is flush with cash and so can easily absorb DF pension losses.
APA states in several places that DFA will not be taking on the liability related to any multi-employer pension plan nor will they agree to contribute to any such plan in any new or modified collective bargaining agreements.
From what I've read, I don't think DFA will assume any pension liabilities or CBA 's as part of the APA.