WASHINGTON: The government may resort to suing Trans World Airlines owner Carl Icahn to cover more than $1 billion in pension payments to retired employees of the troubled company.
The Pension Benefit Guaranty Corp. has told Icahn he must fully finance a $1.2 billion gap in pension plans for retired TWA pilots and machinists or face lawsuits that could wipe out his fortune.
Icahn one of the wealthiest men in America owns more than 80% of TWA. The airline earlier this year sought protection from creditors in bankruptcy court but still must pay employee pension benefits
Article extracted from this publication >> November 6, 1992
