End to Delphi retiree benefits is upheld by bankruptcy judge.

[billyoc]

A bankruptcy judge upheld Wednesday his earlier decision that Delphi Corp. has the right to end health and life insurance benefits for 15,000 salaried Delphi retirees and their spouses on April 1.

Attorneys representing a group of the white collar retirees argued in the Southern District of New York court that Delphi's former owner, General Motors Corp., promised them lifetime coverage.

But in a 23-page opinion, Judge Robert Drain said he agreed that bankruptcy law allows companies to cancel the benefits. Drain said Delphi had clearly demonstrated it has the right to modify the plans at will.

A Delphi retiree's group intends to appeal, said Milton Beach, a spokesman for the Delphi Salaried Retiree Association. "This is obviously disappointing, but we will continue to fight." Beach said. "It's not over."

http://www.detnews.com/apps/pbcs.dll/article?AID=/20090312/AUTO01/903120365/1148/rss25

[Lithos]

1. Yep

Contractual debt to workers and employees means nothing. Contractual debt to credit card companies and banks trumps everything.

Corporations legally seem to have more human and legal rights than humans.

L-