Are contracts literally null and void going into bankruptcy? Obviously they would be up for review, but I assume it would take the request of a creditor or management to have the judge terminate or modify them. I had friends have their pension distress-terminated in bankruptcy. I've had other friends who agreed with management pre-bankruptcy to terminate theirs in exchange for other benefits. I had my benefit frozen in an agreement with management prior to entering bankruptcy. I suppose creditors could have challenged it, but it was approved by the judge.

It looks as though Delphi's wasn't terminated until well into bankruptcy. They discontinued funding it, and the PBGC forced a stressed termination. Salaried employees are still getting a fraction of their benefit but the UAW members' is being supplemented by GM, per their agreement when GM spun off Delphi. I can't tell if that was at the request of the PBGC or Obama arm-twisting GM.