The trustee of Bernard L. Madoff Investment Securities, LLC (“BLMIS”), Irving Picard, recently suffered a severe setback in his efforts to recover money on behalf of investors in BLMIS at the expense of the banks and other financial firms that provided services to BLMIS.
In this month's Pensions E-Bulletin, we consider a number of issues including the potential implications of the Scotland Bill for the taxation of UK pension schemes, the current goals of the Pensions Regulator set out in its annual corporate plan, the Regulator's drive to improve scheme administration, and the Prudential case, giving employers some comfort when changing discretionary practices in their scheme.
Jonathan Peabody joined the Rock Island Corporation, a closely held operation, in 1998.
On June 5, 1996, Jessie I. Brooks executed a trust, with InTrust Bank as trustee, for the lifetime benefit of her daughter, Nola, with the remainder of the assets distributable to her grandchild Kristofer.
The “deepening insolvency” doctrine received another blow when a federal bankruptcy judge dismissed claims against the former directors and shareholders of a corporation for allegedly covering up massive fraud perpetuated by the business.
On February 20, 2008, the U. S. Supreme Court opened the door for participants in 401(k) and similar plans to sue responsible fiduciaries who breach their responsibilities.