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Article

Chadbourne & Parke LLP | USA | 13 Sep 2011

Madoff trustee has no standing to bring common law claims on behalf of Madoff customers

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.

Article

Shepherd and Wedderburn LLP | United Kingdom | 25 May 2011

Implications of Scotland Bill, the latest from the Pensions Regulator and comfort for employers on changing discretionary practices

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.

Article

Kelley Drye & Warren LLP | USA | 4 May 2011

Plan trustee's failure to divest company stock was imprudent under the circumstances

Jonathan Peabody joined the Rock Island Corporation, a closely held operation, in 1998.

Article

McGuireWoods LLP | USA | 3 May 2011

Kristofer Kastner v. InTrust Bank, 2010 U.S. Dist. LEXIS 120927 (November 15, 2010)

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.

Article

Reed Smith LLP | USA | 10 Jun 2008

‘Deepening insolvency’ claim unsuccccessful

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.

Article

Baker Donelson Bearman Caldwell & Berkowitz PC | USA | 29 Feb 2008

Retirement plan participants gain rights to sue fiduciaries

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.

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