Labor & Employment Finance & Banking Bankruptcy

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Employee Benefits Developments - August 2014

The Departments of the Treasury, Labor, and Health and Human Services issued final regulations addressing the rule in the Affordable Care Act (ACA) that prohibits a group health plan from having a waiting period that exceeds...more

Bankruptcy Protection for Inherited IRA

The already complicated subject of how to handle Individual Retirement Accounts following the death of an IRA holder just got a little more complicated with the recent Supreme Court decision in Clark v. Rameker. The issue in...more

When is a Retirement Account not a Retirement Account?

Q: When is a retirement account not a retirement account? A: When it's an inherited IRA and the owner is bankrupt. That's what the Supreme Court said last week in a case involving the Bankruptcy Code's exemption...more

Supreme Court Decides Retirement-Fund Bankruptcy Exemption Case: Clark v. Rameker

On June 12, 2014, the United States Supreme Court decided Clark v. Rameker, No. 13-299, holding that funds in an individual retirement account (IRA) that a bankruptcy debtor obtained through inheritance are not "retirement...more

A Grand Bargain? Detroit Defends Restructuring Plan

Over the Memorial Day weekend, while many around the country were enjoying beautiful weather, the lawyers for the city of Detroit were busy filing a lengthy defense to their proposed restructuring plan, which is slated to be...more

Unpaid Employer Contributions as Plan Assets: Expansion Of Liability Under ERISA

The Employee Retirement Income Security Act of 1974, as amended (“ERISA”), requires trustees of multiemployer pension and benefit funds to collect contributions required to be made by contributing employers under their...more

Equity Investors: Be ForeWARNed

The Worker Adjustment Retraining and Notification Act (WARN Act) requires certain employers to give employees 60 days’ notice of plant closings and mass layoffs. The goal of the WARN Act is to “provide workers and their...more

Russian Legislation Update - 10 February – 2 March 2014

In This Issue: - Banking - Anti-Money Laundering - Concession Agreements - Public Procurement - Employment/Foreign Citizens - Court Practice: Bankruptcy - Excerpt from Banking - On 25...more

Bankrupt San Bernardino is Tackling Pension Obligations Head-On

An interesting article in yesterday’s The Sacramento Bee highlights the importance of finding a way to bring our public pension liabilities under control to maintain the fiscal integrity of our state and local governments....more

When is a total deficit not a total deficit? Another turn of events for pension contributions

Summary - On 18 December 2013, judgment of the High Court in England and Wales was handed down in a case relating to the insolvency of Lehman Brothers companies (In the Matters of Storm Funding Limited (In...more

Government Employee Pensions May Now Be Fair Game for Cuts During Bankruptcy Restructuring

On Tuesday, December 2, 2013, Judge Steven Rhodes of the Eastern District of Michigan ruled that the City of Detroit, which filed for Chapter 9 bankruptcy protection in the U.S. Bankruptcy Court on July 18, 2013, met the...more

Commercial Restructuring & Bankruptcy Alert - December 11, 2013

In this issue: - Detroit Gets a Fresh Start and Pension Debt is at Risk - UK Supreme Court Finds Certain Pension Liabilities Are Not Entitled to Priority Treatment, in Nortel and Lehman Decisions - Amount of...more

Court Rules That Detroit Is Eligible For Chapter 9 And That Pensions May Be Impaired In Chapter 9

On December 5, 2013, the U.S. Bankruptcy Court for the Eastern District of Michigan released its 143 page decision upholding the City of Detroit’s eligibility to be a debtor under chapter 9 of the United States Bankruptcy...more

Parsing the legal and financial impact from Detroit’s bankruptcy

What is the legal, political, and financial fallout of Detroit’s highly publicized Chapter 9 bankruptcy? That was the central question in a Nov. 7 panel discussion in St. Louis hosted by Thompson Coburn. Below are the issues...more

Who Should Hold the Bag for Employment Liabilities When the Portfolio Company Goes “Belly-Up”? The private equity firm, maybe.

In the world of private equity, vast sums of money are raised by private investors who pool their money into collective funds in order to acquire companies, i.e., a “portfolio company”, with the goal of eventually flipping...more

Bernstein Shur Business and Commercial Litigation Newsletter #33

We are pleased to present the 33rd edition of the Bernstein Shur Business and Commercial Litigation Newsletter. This month, we highlight news that will have an impact on business and litigation, including extra-territorial...more

Corporate and Financial Weekly Digest - October 25, 2013

In this issue: - SEC Proposes New Rules for Crowdfunding Exemption - CFTC Provides Clarification for SD and MSP Employees Acting in Clerical or Ministerial Capacities - CFTC Requests Public Comment on MAT...more

Recent Decision of the U.S. Court of Appeals for the First Circuit May Have Significant Implications for Private Equity Funds

In late July of this year, the U.S. Court of Appeals for the First Circuit reversed a Massachusetts District Court, and in a decision of first impression, held that one of Sun Capital Partner’s private equity funds was liable...more

Decanting By Various Means

Decanting By Various Means by James F. McDonough, Jr. on October 8, 2013 Decanting is a popular topic among wealth advisers, trust companies, and tax professionals. In the wine industry, it means putting old wine into...more

IRS Releases New Regulations for Deductible Business Repairs

IRS Releases New Regulations for Deductible Business Repairs by Joseph M. Donegan on October 4, 2013 The Internal Revenue Service released a new set of guidelines governing tax-deductible business repairs, which may...more

Employer Wins Bankruptcy Discharge of Withdrawal Liability

The Ninth Circuit Court of Appeals recently ruled that employers may discharge multiemployer trust withdrawal liability in bankruptcy. Employers required to contribute to multi-employer pension trusts face growing withdrawal...more

American Airlines Wins Court Approval to Exit Bankruptcy

American Airlines Wins Court Approval to Exit Bankruptcy by Joel R. Glucksman on September 26, 2013 A federal bankruptcy judge has approved American Airlines' reorganization plan, as well as its merger with US Airways,...more

Moody’s: Energy Future Holdings in Danger of Bankruptcy

Moody’s: Energy Future Holdings in Danger of Bankruptcy by Joel R. Glucksman on September 24, 2013 Energy Future Holdings Corp. is facing a "high probability" of being forced to seek protection due to the danger of...more

Gov. Snyder Puts Positive Spin on Detroit Bankruptcy to Chinese Investors

Gov. Snyder Puts Positive Spin on Detroit Bankruptcy to Chinese Investors by Joel R. Glucksman on September 20, 2013 Local and state governments, as well as the federal government, are not the only ones closely watching...more

Analysts Skeptical About Kodak’s Future Post-Bankruptcy

Analysts Skeptical About Kodak’s Future Post-Bankruptcy by Joel R. Glucksman on September 13, 2013 Eastman Kodak Co. is expected to officially emerge from bankruptcy protection over the next few days, and once its...more

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