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Results: 11-20 of 121

Claim for post-bankruptcy pension benefits rejected following “free and clear” purchase of assets

  • Hodgson Russ LLP
  • -
  • USA
  • -
  • December 20 2013

A group of retired employees filed a class-action law suit claiming loss of certain retirement benefits. The employees worked for SPX Corporation

Third Circuit considering if the ‘police power’ exception to the automatic stay extends to the UK Pensions Regulator

  • Reed Smith LLP
  • -
  • United Kingdom, USA
  • -
  • December 19 2011

One exception to the otherwise far-reaching scope of the automatic stay is the “police power” exception, which permits a governmental unit to commence or continue an action or proceeding that is in furtherance of its police and regulatory powers (section 362(b)(4) of the Bankruptcy Code

US bankruptcy automatic stay thwarts UK proceedings by the Pension Regulator

  • Dentons
  • -
  • United Kingdom, USA
  • -
  • January 23 2012

On December 29, 2011, the US Court of Appeals for the Third Circuit issued an opinion in the chapter 11 bankruptcy case In re Nortel Networks, Inc., holding that the "automatic stay" on creditor collection actions outside the bankruptcy applied to prevent the UK Pension Protection Fund and the Trustee of the UK Nortel Pension Plan from participating in UK pensions proceedings initiated by the UK Pensions Regulator

Are inherited IRAs protected in bankruptcy?

  • Bryan Cave LLP
  • -
  • USA
  • -
  • May 1 2012

Whether post-death creditor protection is available to inherited IRAs under the 2005 Bankruptcy Act has been the subject of a number of cases decided in the last several years

U.S. Supreme Court rules inherited IRAs not exempt from creditors’ claims in bankruptcy

  • Dykema Gossett PLLC
  • -
  • USA
  • -
  • July 16 2014

The recent unanimous decision of the United States Supreme Court (the "Court") in Clark v. Rameker, 573 U.S. _____ (2014) held that inherited IRAs do

The nays have it: inherited IRAs are not exempt assets in bankruptcy

  • Bryan Cave LLP
  • -
  • USA
  • -
  • June 23 2014

On June 12, the United States Supreme Court in Clark v Rameker resolved the question that has recently split the 5th and 7th Circuits- Are inherited

In a case of first impression, court grants administrative priority status to post-petition withdrawal liability

  • Reed Smith LLP
  • -
  • USA
  • -
  • December 19 2011

As part of its paper manufacturing business, Marcal Paper employed truck drivers who were members of the Teamsters Union

Section 363(f) retires ERISA-based successor liability claims

  • Weil Gotshal & Manges LLP
  • -
  • USA
  • -
  • August 11 2014

As this Blog has discussed in a number of recent posts, free and clear sales under section 363(f) of the Bankruptcy Code often lead to disputes over

Court rejects the "prudent investor rate" in favor of the PBGC discount rate

  • Reinhart Boerner Van Deuren SC
  • -
  • USA
  • -
  • August 17 2010

A district court rejected the prudent investor rate theory and applied the Pension Benefit Guaranty Corporation (PBGC) discount rate to determine the amount of a PBGC termination liability claim

Third Circuit concludes that employees’ unvested retiree benefits are protected during an employer’s Chapter 11 bankruptcy

  • Proskauer Rose LLP
  • -
  • USA
  • -
  • September 3 2010

In re Visteon Corp., No. 10-1944-cv, 2010 WL 2735715 (3d Cir. July 13, 2010), the Third Circuit held that Visteon Corporation (Visteon) could not terminate unvested retiree health and life insurance benefits during a Chapter 11 bankruptcy without seeking court approval pursuant to Bankruptcy Code 1114, 11 U.S.C. 1114