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Stockton Judge: pension obligations are not impervious to impairment in Chapter 9 bankruptcy. What comes next?

  • Kelley Drye & Warren LLP
  • -
  • USA
  • -
  • October 16 2014

The perception that public employee pension obligations cannot be impaired in bankruptcy suffered a damaging blow several months ago in the City of

Sixth Circuit holds that supplemental unemployment compensation benefits are not ‘wages’ subject to FICA taxation

  • Pepper Hamilton LLP
  • -
  • USA
  • -
  • September 10 2012

In an important recent decision, United States v Quality Stores, Inc., et al., in which Pepper represented the prevailing party, the U.S. Court of Appeals for the Sixth Circuit held that supplemental unemployment compensation benefits (SUB payments) paid by a bankrupt company to its former employees were not wages subject to taxation under the Federal Insurance Contributions Act (FICA

Settlement reached in Lehman Brothers financial support direction case

  • Norton Rose Fulbright LLP
  • -
  • United Kingdom
  • -
  • August 28 2014

Again, of interest to all schemes providing defined benefits is the recent settlement in the litigation involving the Lehman Brothers Scheme, where

Protect your estate from beneficiary bankruptcy: lessons from Clark v. Rameker

  • Ryley Carlock & Applewhite
  • -
  • USA
  • -
  • September 16 2014

In the preparation of a comprehensive estate plan for a client, an attorney must consider the size of the estate, the manner in which assets are

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

Ninth Circuit rules that withdrawal liability may be discharged in bankruptcy

  • Trucker Huss APC
  • -
  • USA
  • -
  • November 1 2013

In a decision that comes as welcome news to some employers, the Ninth Circuit Court of Appeals recently ruled that an employer that incurred

U.S. Supreme Court denies bankruptcy protection for inherited IRAs

  • Tucker Ellis
  • -
  • USA
  • -
  • July 17 2014

The U.S. Supreme Court's recent decision in Clark v. Rameker has given individuals with IRAs a new reason to consider the use of trusts as their

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

Court of Appeal upholds decision that Pensions Regulator’s demands are granted “super-priority” in insolvencies

  • Latham & Watkins LLP
  • -
  • United Kingdom
  • -
  • October 20 2011

The Court of Appeal handed down its judgment on 14 October 2011 unanimously upholding the first instance decision that a Financial Support Direction (FSD) issued by the Pensions Regulator to an entity after it has commenced insolvency proceedings will rank as an expense of the administration, therefore affording it super-priority over floating charge holders and other unsecured creditors

Liquidators and unsecured creditors beware: interim distribution of employee entitlements may mean later preference recoveries belong to a secured creditor

  • Cooper Grace Ward
  • -
  • Australia
  • -
  • February 18 2013

The recent decision of the Federal Court in Carter in the matter of Damilock Pty Ltd (Damilock) highlights the need for liquidators to review current