Navigation Links
Dana Corporation, Inc. Enters Into Settlement Agreement With Dana Retiree Committee
Date:9/4/2007

CHICAGO, Sept. 4 /PRNewswire/ -- Stahl Cowen Crowley LLC, of Chicago, IL, counsel to the Chapter 11 Dana Retiree Committee, is pleased to announce that Dana Corporation, Inc. has entered into a settlement agreement with the Dana Retiree committee over the retiree's rights to benefits. Dana had sought Bankruptcy Court approval to terminate all of its retirees' rights to health benefits. As a result of the settlement Stahl Cowen Crowley negotiated on behalf of Dana's non-union retirees, Dana will (1) pay for retiree benefits for non-union retirees through July 1, 2007; (2) contribute $78 million dollars to fund a trust be used for providing retiree benefits (3) pay for the cost of setting up the trust; and (4) work with the Retiree Committee to explore offering life insurance conversions (with the cost being paid by any retiree seeking conversion) when and if the underlying policies allow for conversions. The Retiree Committee will, through the trust, create new health insurance plans for the retirees to move into, with the trust funds to be used to pay for a portion of the premiums of such plans through the remainder of the retirees' lives.

Stahl Cowen Crowley, led by Jon Cohen and Trent Cornell, was selected to serve as counsel for the Non-Union Retiree Committee of Dana and 40 of its subsidiaries in September 2006. Mr. Cohen and Mr. Cornell previously served as lead counsel to the retiree committees in FV Steel, Inc. (Keystone) and Intermet, Inc. and their debtor affiliates. Stahl Cowen Crowley has extensive experience representing Chapter 11 retiree committees, having represented more Chapter 11 retiree committees than any other firm in the country.

Stahl Cowen Crowley LLC is a Chicago-based law firm focused on serving the needs of business enterprises in today's dynamic marketplace. The firm provides sophisticated, yet cost effective legal counsel to organizations ranging from the entrepreneurial to large, publicly traded corporations and municipalities. Practice areas include Bankruptcy & Restructuring, Corporate, Mergers & Acquisitions, Litigation, Local Government, Real Estate and Trusts & Estates.

For further information about this matter please contact Jon Cohen or Trent Cornell at (312) 641-0060.


'/>"/>
SOURCE Stahl Cowen Crowley LLC
Copyright©2007 PR Newswire.
All rights reserved

Related medicine news :

1. RANBAXY - enters anti-AIDS segment
2. Medicis Pharmaceutical company enters pediatric market
3. ZYDUS enters female health care segment
4. Risk of allergy more to children staying in day care centers
5. Walk-In Health Centers Launched By The NHS For Commuters
6. Primary Care centers to provide out patient treatment
7. Free HIV Tests Brings Crowd to the Testing Centers
8. More Doctors Suspended As Strike Enters Seventh Day
9. Doctors Strike In Andhra Enters The Second Day
10. NACO to Introduce 400 Additional AIDS/HIV Screening Centers
11. Anti-Quota Stir: Stalemate Continues; Fast Enters 10th Day
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/26/2016)... ... June 26, 2016 , ... PawPaws brand pet ... product that was developed to enhance the health of felines. The formula is all-natural ... two main herbs in the PawPaws Cat Kidney Support Supplement Soft Chews ...
(Date:6/25/2016)... ... June 25, 2016 , ... ... and applications at AcademyHealth’s Annual Research Meeting June 26-28, 2016, at the Hynes ... important health care topics including advance care planning, healthcare costs and patient and ...
(Date:6/25/2016)... , ... June 25, 2016 , ... "With 30 hand-drawn ... specific project," said Christina Austin - CEO of Pixel Film Studios. , ProHand ... all within Final Cut Pro X . Simply select a ProHand generator and ...
(Date:6/25/2016)... ... June 25, 2016 , ... ... recover from injury. Recently, he has implemented orthobiologic procedures as a method for ... is one of the first doctors to perform the treatment. Orthobiologics are substances ...
(Date:6/24/2016)... ... June 24, 2016 , ... A recent article published June 14 ... The article goes on to state that individuals are now more comfortable seeking to ... operations such as calf and cheek reduction. The Los Angeles area medical group, Beverly ...
Breaking Medicine News(10 mins):
(Date:6/24/2016)... CLEMENTE, Calif. , June 24, 2016  American Respiratory Labs ... company, is now able to perform sophisticated lung assessments in patients, ... Technologies , Inc. Patients are no longer limited ... ndd,s EasyOne PRO ® , ARL patients like Jeanne R. of ... done in the comfort of her own home. ...
(Date:6/24/2016)... NAMUR , Belgium , ...  (NYSE MKT: VNRX), today announced the appointment of ... Board of Directors as a Non-Executive Director, effective ... the Company,s Audit, Compensation and Nominations and Governance ... Board, Dr. Futcher will provide independent expertise and ...
(Date:6/23/2016)... Any dentist who has made an implant supported ... Many of them do not even offer this as a ... laboratory costs involved. And those who ARE able to offer ... high cost that the majority of today,s patients would not ... Zadeh , founder of Dental Evolutions Inc. and inventor of ...
Breaking Medicine Technology: