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BBBY » Topics » 10.9 Insolvency.

This excerpt taken from the BBBY 8-K filed Jan 5, 2006.

10.9              Insolvency.

 

Should the Employer be considered insolvent (as defined by the Trust), the Employer, through its Board and Chief Executive Officer, shall give immediate written notice of such fact to the Administrator and the Trustee.  Upon receipt of such notice, the Administrator or Trustee shall cease to make any payments to Participants who were Employees of the Employer or their beneficiaries and the Trustee shall hold any and all assets attributable to the Employer for the benefit of the general creditors of the Employer.

 

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