[mewzilla]

But aren't those contracts at risk if the company is sold? Are buyers obligated to assume the pension and healthcare costs?

[A Patriot Son]

Are buyers obligated to assume the pension and healthcare costs?

Yes

If you owned a farm and sold it with 10 men working for you do you think it would be legal or moral for you and/or the buyer to just not pay them their last month's wages or however much you owed them?

And would you do that?

If the buyer doesn't want to assume the debts of the company then they should not buy it.

[mabelkitty]

LTV Steel tried to get the US Government to do just that.

They wanted you and I to assume their "legacy costs" (i.e, all the promised retirement benefits) so they could reorg in bankruptcy court.

Thank G it was shot down.