Labor & Employment Law, Commercial Law & Contracts, Bankruptcy

Changes Afoot for ERISA “Reportable Event” Rules

by Mark Hamilton, Kellie Thomas | White & Case LLP on 5/10/2013

As many as 90% of pension plans and pension plan sponsors may soon have fewer “reportable events” to track and report to the Pension Benefit Guaranty Corporation (the “PBGC”), if certain proposed changes to the PBGC...more

Settlements Redux: A Brief Follow-Up From My Bankruptcy Post

by Kenneth Vanko | Clingen Callow & McLean, LLC on 4/30/2013

I received a number of e-mails on my three-part series on settlements, which ran over the past few weeks. Of those e-mails, several dealt with a topic I raised in Part 3 - accounting for the possibility of a settling...more

Settlements (Part 3 of 3): Dealing With a Defendant's Bankruptcy in Non-Compete Litigation

by Kenneth Vanko | Clingen Callow & McLean, LLC on 4/17/2013

This is largely a plaintiff-centric column, offering some practical points to consider when assessing the risk of bankruptcy in connection with non-compete (or other competition) litigation. Though many non-compete suits...more

Proposed Regulations May Affect Default Risk for Borrowers with Pension Plans

by Mark Jones, Matthew Ryan | Pillsbury Winthrop Shaw Pittman LLP on 4/12/2013

The Pension Benefit Guaranty Corporation (PBGC) has proposed regulatory safe harbors waiving the obligation of financially sound defined benefit pension plans and the companies that maintain them from the duty to report...more

Dechert OnPoint: NDNY Bankruptcy Court's Broad Interpretation of the Definition of "Interests" in 363 Sale

by Matthew Ginsburg | Dechert LLP on 4/12/2013

A recent decision out of the Bankruptcy Court for the Northern District of New York has brought greater certainty to the interpretation of what qualifies as an “interest” when determining the scope of a Section 363(f) “free...more

New York Bankruptcy Court Adopts Expansive View of Section 363 Free and Clear Assets Sales

by Dechert LLP on 4/8/2013

Introduction - In a recent decision, the Bankruptcy Court for the Northern District of New York broadly interpreted the meaning of “interest” in the context of determining the scope of a sale free and clear of “liens,...more

Bankrupt Municipality May Reduce Retiree Benefits

by Aaron Kleven | Sheppard Mullin Richter & Hampton LLP on 3/15/2013

The bankruptcy of the largest U.S. city to file a chapter 9 bankruptcy petition has yielded a decision with serious implications for municipal creditors. Specifically, the United States Bankruptcy Court for the Eastern...more

Non-Compete Case Law Update: The Mildly Interesting, But Useful, Edition

by Kenneth Vanko | Clingen Callow & McLean, LLC on 2/12/2013

The new year is off to a pretty big start. We've already seen significant decisions from federal appellate courts on criminal trade secrets prosecutions and the epic Mattel/MGA "Bratz" dolls dispute. We have a looming debate...more

Employee Benefits in an Insolvency

by Domenico Magisano | Lerners LLP on 2/5/2013

In a judgment rendered in December 2012, the British Columbia Court of Appeal (“BC CA”) further clarified an insurer's priority for payment of unpaid health plan contributions. In Re: Ted Leroy Trucking Ltd. the bankrupt had...more

Laid-Off Hostess Workers Still Fighting for Pensions

by Josh Crank | Lawyers.com on 12/5/2012

When Hostess Brands Inc. announced it was going out of business, Twinkie lovers panicked, clearing out grocery shelves and forking over nearly $60 for a single box on eBay. But Hostess’ 18,500 workers faced bigger problems: a...more

Hostess to Liquidate

by Cadwalader - Financial Restructuring on 11/28/2012

After a final mediation session between Hostess and its unions failed to put Hostess’s reorganization back on track, Bankruptcy Judge Robert Drain authorized the orderly wind down of Hostess’s operations. As a result, Hostess...more

Hostess Bankruptcy

by Clint W. Smith, P.C. on 11/9/2012

In the dog-eat-dog world of Chapter 11 bankruptcy, we should not be surprised when disputes arise between parties arguing about money. Kodak is trying to terminate pension/retirement benefits for its workers in its Chapter...more

PBGC Announces Formal Policy Reducing Impact of ERISA Section 4062(e) on Creditworthy Plan Sponsors

by McDermott Will & Emery on 11/9/2012

The Pension Benefit Guaranty Corporation (PBGC) has announced a new pilot program that should substantially modify its enforcement strategy regarding pension liability for facility closures under ERISA Section 4062(e). Under...more

Hostess Court Authorizes Rejection of Bakers’ Union Collective Bargaining Agreements

by Cadwalader - Financial Restructuring on 11/7/2012

Last month the drama surrounding Hostess’s efforts to reject various collective bargaining agreements drew to a close (pending appeal). Bankruptcy Judge Robert Drain (in an unpublished decision) authorized Hostess to reject...more

Economic Forecast For Slow Growth

by Peter Bauman - Senior Associate at Tharpe &... on 10/31/2012

Two major conclusions are found in a recent survey of economists by the Wall Street Journal: 1. Slow growth over the coming year 2. A recession is unlikely As reported by the Los Angeles Times, the survey of 48...more

Prohibition of Indebtedness in Joint Stock Companies and Limited Liability Partnerships

by Burak Kepkep on 10/18/2012

This article briefly discusses the prohibition of indebtedness of shareholders, partners, Board Members, Managers and their relatives in Joint Stock Companies and Limited Liability Partnerships, under the Turkish Commercial...more

Self-Funded Plans Need to be Careful in Enforcing Subrogation Rights

by Leonard, Street and Deinard - Employee... on 9/26/2012

A recent Eighth Circuit Court of Appeals decision considered the situation of a participant covered under a self-funded ERISA plan who sustained injuries in a slip and fall accident. The plan paid health benefits for that...more

American Airlines Pilots Gamble And Lose In Bankruptcy Case [Video]

by Bloomberg Law on 9/6/2012

Sept. 6 (Bloomberg Law) -- Bloomberg Law's Lee Pacchia talks with Bloomberg News bankruptcy columnist and editor-at-large Bill Rochelle about how a strategy backfired on the pilots' union at American Airlines. Bill also...more

Hostess Court Dismisses Motion to Reject Expired Collective Bargaining Agreements Under Bankruptcy Code Section 1113

by Cadwalader, Wickersham & Taft LLP on 8/21/2012

On June 22, 2012, Judge Robert Drain of the United States Bankruptcy Court for the Southern District of New York granted the motion of the Bakery, Confectionary, Tobacco Workers and Grain Millers International Union to...more

American Airlines Seeks to Rob Retirees of Benefits

by Lawyers.com on 7/19/2012

In the midst of bankruptcy proceedings, American Airlines has asked a judge to allow it to stop paying retiree health insurance and life insurance benefits. - Airline hopes to save over $1.3 billion annually in benefits...more

Lumbermens Enters Rehabilitation: What Are the Consequences for Its Policyholders?

by Reed Smith on 7/16/2012

Lumbermens Mutual Casualty Company and American Manufacturers Mutual Insurance Company (part of the Lumbermens Mutual Group and formerly known as Kemper) (“Lumbermens”), after years of struggling financially under the...more

The Devil (Dog) ® is in the Details: Bankruptcy Court Denies Hostess’s Motion to Reject Collective Bargaining Agreements on Narrow...

by Cadwalader, Wickersham & Taft LLP on 6/11/2012

The recent bankruptcy case of Hostess has centered on Hostess’s attempts to reject collective bargaining agreements with its unions. Hostess has emphasized that realigning labor costs is essential to its ability to...more

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Labor & Employment Law › Commercial Law & Contracts › Bankruptcy

Changes Afoot for ERISA “Reportable Event” Rules

Settlements Redux: A Brief Follow-Up From My Bankruptcy Post

Settlements (Part 3 of 3): Dealing With a Defendant's Bankruptcy in Non-Compete Litigation

Proposed Regulations May Affect Default Risk for Borrowers with Pension Plans

Dechert OnPoint: NDNY Bankruptcy Court's Broad Interpretation of the Definition of "Interests" in 363 Sale

New York Bankruptcy Court Adopts Expansive View of Section 363 Free and Clear Assets Sales

Bankrupt Municipality May Reduce Retiree Benefits

Non-Compete Case Law Update: The Mildly Interesting, But Useful, Edition

Employee Benefits in an Insolvency

Laid-Off Hostess Workers Still Fighting for Pensions

Hostess to Liquidate

Hostess Bankruptcy

PBGC Announces Formal Policy Reducing Impact of ERISA Section 4062(e) on Creditworthy Plan Sponsors

Hostess Court Authorizes Rejection of Bakers’ Union Collective Bargaining Agreements

Economic Forecast For Slow Growth

Prohibition of Indebtedness in Joint Stock Companies and Limited Liability Partnerships

Self-Funded Plans Need to be Careful in Enforcing Subrogation Rights

American Airlines Pilots Gamble And Lose In Bankruptcy Case [Video]

Hostess Court Dismisses Motion to Reject Expired Collective Bargaining Agreements Under Bankruptcy Code Section 1113

American Airlines Seeks to Rob Retirees of Benefits

Lumbermens Enters Rehabilitation: What Are the Consequences for Its Policyholders?

The Devil (Dog) ® is in the Details: Bankruptcy Court Denies Hostess’s Motion to Reject Collective Bargaining Agreements on Narrow...

VeraSun: Claims Under “Change in Control” Agreements Subject to Cap Governing “Employment Contracts”

Points & Authorities - Winter 2012

Bankruptcy Judge Grants Philadelphia Orchestra Approval for Labor Agreement

American Airlines Pilots Gamble And Lose In Bankruptcy Case [Video]

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