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Results: 1-10 of 63

Weathering the storm: recent decision creates additional cash requirements to reorganize

  • Haynes and Boone LLP
  • -
  • USA
  • -
  • April 30 2009

On April 8, 2009, the Second Circuit Court of Appeals issued a ruling that creates an additional hurdle for companies providing single-employer pension funds when seeking to reorganize through a bankruptcy

Weathering the storm: retiree benefits and Section 1114

  • Haynes and Boone LLP
  • -
  • USA
  • -
  • May 27 2009

Retiree benefits are often a central issue in bankruptcy cases

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

  • Pillsbury Winthrop Shaw Pittman LLP
  • -
  • USA
  • -
  • 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

Court applies exclusion for claims involving receivership of a healthcare benefit plan

  • Wiley Rein LLP
  • -
  • USA
  • -
  • June 16 2008

The United States District Court for the Middle District of Florida, applying Florida law, has held that exclusions for claims involving the receivership of a healthcare benefit plan and claims involving Multiple Employer Welfare Arrangements (MEWA) barred coverage for claims brought by a receiver of a healthcare benefit plan alleging that brokers sold coverage under a benefit plan that was a MEWA

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

  • Pillsbury Winthrop Shaw Pittman LLP
  • -
  • USA
  • -
  • 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

Second Circuit decision improves PBGC’s position in chapter 11

  • Paul, Weiss, Rifkind, Wharton & Garrison LLP
  • -
  • USA
  • -
  • April 15 2009

On April 8, the Second Circuit Court of Appeals reversed the Bankruptcy Court and concluded that special ERISA "termination premiums" due PBGC are not contingent prepetition claims subject to discharge in a chapter 11 reorganization

Margin violation is not an affirmative defense to an action on a note

  • Kelley Drye & Warren LLP
  • -
  • USA
  • -
  • October 20 2010

Several senior Comdisco, Inc. employees participated in the company’s shared investment plan (SIP) program

Knowledge is power -- or at least triggers the ERISA statute of limitations

  • Squire Sanders
  • -
  • USA
  • -
  • October 1 2010

The Sixth Circuit continues to liberally define the "actual knowledge" required to trigger the 3-year ERISA statute of limitations and, in doing so, affirmed summary judgment in favor of the defendants in Brown v Owens Corning Investment Review (Case No. 09-3692

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

Withdrawal liability payments are not deferred pending arbitration when accelerated due to insolvency

  • Kelley Drye & Warren LLP
  • -
  • USA
  • -
  • September 17 2010

Until 2007, O’Neill Bros. Transfer & Storage took part in a multi-employer pension fund administered by the Central States Southeast and Southwest Areas Pension Fund (the “Fund”