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Court interprets “retiree benefits” under bankruptcy law without reference to ERISA

Pillsbury Winthrop Shaw Pittman LLP
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USA
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October 15 2009

The Bankruptcy Court for the District of Delaware has issued a decision concluding that company-paid medical coverage offered as part of an employee severance package is a "retiree benefit" that cannot be unilaterally modified by the company in bankruptcy, except as provided under Section 1114 of the Bankruptcy Code

Second Circuit finds termination premiums not dischargeable “claims” in bankruptcy

Pillsbury Winthrop Shaw Pittman LLP
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USA
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April 13 2009

On April 8, 2009, the United States Court of Appeals for the Second Circuit found that "termination premiums" due under Section 4006(a)(7) of the Employee Retirement Income Security Act ("ERISA") are not "claims" under the Bankruptcy Code and are therefore not dischargeable in bankruptcy

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Jurisdiction - USA
Workarea - Employee Benefits & Pensions
Workarea - Insolvency & Restructuring
Author - Peter J. Hunt
Firm Name - Pillsbury Winthrop Shaw Pittman LLP

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Court interprets “retiree benefits” under bankruptcy law without reference to ERISA

Second Circuit finds termination premiums not dischargeable “claims” in bankruptcy

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