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Results: 11-20 of 117

Bankruptcy estate does not avoid control group status for withdrawal liability

  • Hodgson Russ LLP
  • -
  • USA
  • -
  • February 28 2012

In 1999, Michael Cappy filed for bankruptcy protection

Debtors may not be able to keep the KEIP

  • Lowenstein Sandler LLP
  • -
  • USA
  • -
  • August 30 2012

In two recent decisions, the United States Bankruptcy Court for the Southern District of New York denied motions by large chapter 11 debtors to approve executive bonus plans designated as key employee incentive plans ("KEIP"), finding that the proposed KEIPs actually were disguised and impermissible retention or "pay to stay" bonus plans for insiders

PBGC issues final PPA regulation on terminating plans in bankruptcy

  • Jones Day
  • -
  • USA
  • -
  • August 18 2011

On June 13, the Pension Benefit Guaranty Corporation ("PBGC") released a final rule that, in most cases, will reduce the amount of pension benefits guaranteed under the agency's single-employer insurance program when a pension plan is terminated in a bankruptcy case

California dreaming? CalPERS seeks payment in full of all pension obligations during pendency of San Bernardino’s Chapter 9 case

  • Cadwalader Wickersham & Taft LLP
  • -
  • USA
  • -
  • December 10 2012

California has seen a string of three Chapter 9 filings this year and faces a long line of distressed municipalities

Pennsylvania federal court addresses insolvency exclusion

  • Traub Lieberman Straus & Shrewsberry LLP
  • -
  • USA
  • -
  • December 1 2011

In its recent decision ACE Capital Ltd. v. Morgan Waldon Ins. Mgmt., LLC, 2011 U.S. Dist. LEXIS 135902 (W.D. Pa. Nov. 28, 2011), the United States District Court for the Western District of Pennsylvania had occasion to consider the scope of an insolvency exclusion in a professional liability policy

Second Circuit decision results in significant nondischargeable debt as a result of new PBGC claims arising from pension plan termination in Chapter 11

  • Squire Patton Boggs
  • -
  • USA
  • -
  • August 26 2009

During the bankruptcy cycle following the recession of 2001, numerous debtors notably airlines such as US Airways and United Air Lines, Inc. undertook “distress terminations” of their ERISA-qualified defined benefit pension plans, which are insured by the Pension Benefit Guaranty Corporation (PBGC

DOL proposes amendments to Abandoned Plan Program

  • Littler Mendelson
  • -
  • USA
  • -
  • December 14 2012

The Department of Labor’s Employee Benefits Security Administration (EBSA) is proposing to allow bankruptcy trustees to take advantage of the agency’s Abandoned Plan Program regulations under ERISA to terminate, wind up, and distribute retirement plan benefits to former employees of bankrupt companies

What matters: A review of 2011 and 2012

  • Kramer Levin Naftalis & Frankel LLP
  • -
  • USA
  • -
  • April 1 2013

As you know, the last two years have seen a somewhat improved, but by no means robust, business climate. At the same time, structural shifts in the

Steel cage match between Calpers and bond investors continues in San Bernardino Chapter 9 case

  • Kelley Drye & Warren LLP
  • -
  • USA
  • -
  • January 8 2013

The battle in California municipal bankruptcies between bond investors and Calpers, the California public employee pension system, began in the Stockton

Preserving some portion of the non-qualified plan benefits of a bankrupt company

  • Winston & Strawn LLP
  • -
  • USA
  • -
  • August 29 2013

I have blogged several times about the difficulties of preserving non-qualified plan benefits, particularly when the plan sponsor goes bankrupt. At