Eversheds Sutherland (US) LLP | USA | 20 Mar 2013
On March 8, 2013, the U.S. District Court for the District of Nevada, Judge Larry R. Hicks presiding, granted the defendant-insurer’s motions for…
Eversheds Sutherland (US) LLP | USA | 28 Aug 2012
In direct contradiction to the recent MetLife case, a different division of the Illinois Appellate Court held that a taxpayer was subject to the double interest amnesty penalty on its increased state tax liability resulting from federal audit changes.
Eversheds Sutherland (US) LLP | USA | 7 Feb 2011
Last month, a federal district court in California ruled on a dispute over the meaning of a life insurance policy provision stating that the "[c]urrent monthly cost of insurance rates will be determined by the Company based on its expectation as to future mortality experience."
Eversheds Sutherland (US) LLP | USA | 2 Oct 2009
The U.S. District Court for the Western District of Oklahoma ruled in Thomas v. Metropolitan Life Insurance Co., No. 5:07-cv-00121 (W.D. Okla. Aug. 31, 2009), that a Metropolitan Life Insurance Co. (MetLife) representative was not subject to the Investment Advisers Act of 1940 (1940 Act) and did not have the fiduciary obligations imposed by advisers under the 1940 Act when selling plaintiffs......
Eversheds Sutherland (US) LLP | USA | 19 Aug 2009
Judge Allan L. Gropper of the Bankruptcy Court for the Southern District of New York issued a much-anticipated order on August 11, 2009, in the challenge to the bankruptcy filings by certain special-purpose-entity (“SPE”) affiliates of General Growth Properties, Inc. (“GGP”).
Eversheds Sutherland (US) LLP | USA | 1 Jul 2008
In Metropolitan Life Insurance Company v. Glenn, issued on June 19, 2008, the United States Supreme Court ruled that when a ERISA fiduciary responsible for determining in its discretion eligibility for benefits under an employer plan is also the party financially responsible for paying claims under that plan, a structural conflict of interest exists that must be taken into consideration by......