The Pension Benefit Guarantee Corporation will assume responsibility for the retirement benefits of 2,101 employees who worked for the late corporate raider Victor Posner.
The APL/NVF Consolidated Pension Plan covered employees of Posner's estate, which held mostly real estate interests in Florida, Pennsylvania and Maryland, and was liquidated by a Florida Probate Court.
Posner at one time had controlling interests in a variety of companies including Arby's, Royal Crown Cola and Sharon Steel.
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