Richard Fought v. Evans Products Company Racine Pension Plan Agreement

EASTERBROOK, Circuit Judge.

Racine Steel Castings Company lost money, and together with its corporate parent Evans Products Company filed for bankruptcy in 1986. Both firms liquidated. Evans Asset Holding Company (EAHC), formed to sell off the corporate family’s assets, acquired and quickly sold Racine Steel’s plant. The buyer, B & R Holdings, Ltd., assumed none of its predecessor’s liabilities but did hire most of its employees. EAHC dismissed its employees in April 1987 and terminated Racine Steel’s pension plan at the end of January 1988, distributing to its employees all of their vested…