A U.S. District Court in Pittsburgh has ruled that White Consolidated...

A U.S. District Court in Pittsburgh has ruled that White Consolidated Industries Inc., Cleveland, is liable for as much as $200 million in unfunded benefits of six pension plans that were shuttered several years after the company transferred them to Blaw Knox Corp. The court ruled the transfer was a sham intended to unload the unfunded pension plans. The PBGC sued the company in September 1991. The district court initially dismissed the suit, but it was reinstated on appeal.