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Article

Masuda Funai Eifert & Mitchell Ltd | USA | 12 Sep 2011

Potential personal liability possible because of outstanding loans from benefit fund

Recently, the U.S. Department of Labor (“DOL”) filed a lawsuit against the United Employee Benefit Fund (the “Fund”) and its two trustees for ERISA violations with respect to improper loans from the Fund.

Article

Masuda Funai Eifert & Mitchell Ltd | USA | 15 Jun 2009

ERISA breach of fiduciary duty costs airline and banks more than $9,500,000

Recently, the U.S. Department of Labor (“DOL”) announced that it had entered into settlement agreements with Aloha Airlines Inc., Bank of Hawaii and First Hawaiian Bank which require them to pay $9,545,454 to the airline’s three pension plans for losses that the plans suffered on investments in stock of the airline’s holding company.

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