Bloomberg reported that the documents being sought are part of an investigation to determine whether there has been a violation or is about to be a violation of the Employee Retirement Income Security Act (ERISA), according to a US Department of Labor (DoL) subpoena.
Northwest, which sought Chapter 11 bankruptcy protection in September, didn’t make $142 million in pension contributions due last year, according to a US Securities and Exchange Commission filing in November.
The DoL first subpoenaed the information January 9 and threatened to “commence litigation to enforce the subpoena” on February 27, the Eagan-based airline said.
Northwest is willing to cooperate as long as the two parties sign a confidentiality agreement, according to the filing in the US Bankruptcy Court for the Southern District of New York.
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