3rd Circuit Rules Against Yellow Corp. In Regulatory Row Over Withdrawal Liability

( September 18, 2025, 12:29 PM EDT) -- PHILADELPHIA — Resolving a direct appeal that involved “the novel issue” of whether two Pension Benefit Guaranty Corp. (PBGC) regulations are valid, the Third Circuit U.S. Court of Appeals affirmed a Delaware federal bankruptcy judge’s ruling upholding the regulations in a multibillion-dollar withdrawal liability dispute regarding federal special financial assistance (SFA) that was awarded to multiemployer pension plans....

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