Labor & Employment Law, Finance & Banking, Bankruptcy

Nonresident Employee Avoids New York Taxes On Deferred Compensation Payment

by Angela Bohmann | Leonard, Street and Deinard - Employee... on 5/13/2013

A taxpayer we will call John worked for a savings bank in New York that was acquired by Washington Mutual Bank. John participated in the New York bank’s supplemental executive retirement plan (SERP) and its deferred...more

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

District Court Limits the Collection of Withdrawal Liability Against Private Equity Funds

by Anthony Cacace, Neal Schelberg | Proskauer - ERISA Practice Center on 5/9/2013

In Sun Capital Partners III, LP v. New England Teamsters and Trucking Industry Pension Fund, 2012 WL 5197117 (D. Mass. Oct. 18, 2012), a federal district court in Massachusetts concluded that a private equity fund was not a...more

PBGC Proposes New Regulations Under Reportable Events Rule

by Lisa H. Barton, Brian J. Dougherty, R. Randall Tracht | Morgan Lewis on 4/12/2013

New rules signal relief for financially sound plans and plan sponsors and are consistent with PBGC's section 4062(e) enforcement policy for "plant shutdown" liability....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

Indalex: What Are the Pension Implications?

by Lesha Van Der Bij | Osler, Hoskin & Harcourt LLP on 2/13/2013

On February 1, 2013, the Supreme Court of Canada released its much anticipated decision in Sun Indalex Finance, LLC v. United Steelworkers, a case which pitted the claims of pensioners against those of secured creditors in...more

New Concerns for Bondholders, Lenders and Other Creditors Following SCC’s Indalex Decision

by Richard Orzy, Raj Sahni, Kevin Zych | Bennett Jones LLP on 2/13/2013

On February 1, 2013, the Supreme Court of Canada (SCC) released its much-awaited decision in the Indalex case. While the central issue in Indalex was the priority of wind-up deficiencies in defined benefit pension plans...more

Indalex: Supreme Court of Canada Decision Released

by Kenneth Kraft, John Salmas, Sara-Ann Van Allen | Heenan Blaikie LLP on 2/12/2013

The Supreme Court of Canada (“SCC”) recently released its much-anticipated decision in the Indalex Limited (“Indalex”) proceedings under the Companies’ Creditors Arrangement Act (the “CCAA Proceedings”). The decision is...more

Supreme Court of Canada Upholds Priority for DIP Lenders in CCAA Proceedings

by Michael N. Atlas, Lisa Corne, David Preger, Michael Weinczok | Dickinson Wright on 2/7/2013

Overview - On February 1, 2013, the Supreme Court of Canada (the “SCC”) affirmed the priority granted to Debtor-In-Possession (“DIP”) lenders who provide capital to debtor companies undergoing the restructuring process...more

Obligations To Pensioners In An Insolvency: Supreme Court Clarifies The Law

by Mary Picard | Dentons on 2/4/2013

The Supreme Court of Canada overturned the Ontario Court of Appeal today in what is one of the most highly-anticipated cases for the pension and insolvency bars pending before the courts. In Indalex (Re) 2013 SCC 6, the court...more

Supreme Court of Canada Affirms Federal Paramountcy in Insolvency but Leaves Uncertainty for the Credit Community Regarding...

by Anthony Devir, Edward Sellers | Osler, Hoskin & Harcourt LLP on 2/1/2013

The Supreme Court of Canada released its highly anticipated decision in Indalex Limited (Re) this morning. The ruling stemmed from an appeal of an Ontario Court of Appeal decision that had created commercial uncertainty...more

California Dreaming? CalPERS Seeks Payment in Full of All Pension Obligations During Pendency of San Bernardino’s Chapter 9 Case

by Thomas Curtin, Douglas Mintz | Cadwalader - Financial Restructuring on 12/11/2012

California has seen a string of three Chapter 9 filings this year and faces a long line of distressed municipalities. Given this backdrop, the California Public Employees’ Retirement System (“CalPERS”) figures to play a...more

Bill on Bankruptcy: Patriot Coal Case Kicked From Manhattan To St. Louis [Video]

by Bloomberg Law on 11/29/2012

Nov. 29 (Bloomberg Law) -- The decision sending the Patriot Coal Corp. reorganization to St. Louis will focus debate on the near impossibility of convincing a judge in New York or Delaware to send a bankruptcy somewhere else,...more

Limiting Private Equity Fund Exposure to the ERISA Obligations of Portfolio Companies

by Peter J. Hunt, Susan P. Serota | Pillsbury Winthrop Shaw Pittman LLP on 11/26/2012

In welcome news for private equity (“PE”) funds, a recent district court opinion determined that two PE funds and their bankrupt portfolio company were not a “controlled group” and thus the PE funds were not responsible for...more

U.S. Pension ruling offers relief to private equity funds

by Sandra Cohen | Osler, Hoskin & Harcourt LLP on 11/26/2012

In a recent blog post, Carol Buckmann wrote about a decision from a federal district court judge in Massachusetts calling into question a 2007 advisory opinion from the U.S. Pension Benefit Guaranty Corporation (PBGC)....more

Bill on Bankruptcy: Who's to Blame for the Hostess Liquidation? [Video]

by Bloomberg Law on 11/21/2012

Nov. 21 (Bloomberg) -- What did the Hostess Brands Inc. labor unions and management know about the company's imminent failure and when did they know it? That's the first topic for discussion on this week's Bloomberg...more

Bill on Bankruptcy: AMF, Hostess, Kodak, JC Penney, UK Law, Want Ads [Video]

by Bloomberg Law on 11/14/2012

Nov. 14 (Bloomberg) -- The return visit by AMF Bowling Worldwide Inc. to bankruptcy court is the first topic on this week's Bloomberg bankruptcy video. Next, Bloomberg Law's Lee Pacchia and Bloomberg News bankruptcy columnist...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

Incomes Down, Unemployment Numbers Up – Signs of the Economic Improvement?

by Kimberly Pelkey Sdeo on 11/5/2012

New Economic Indicators Out, decreased median incomes and increased unemployment numbers are a positive sign? ...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

Case Alert!! Decisions Which Will Affect Financing of Companies with Pension Plans and Potential Environmental Liability Expected...

by Domenico Magisano | Lerners LLP on 9/4/2012

Supreme Court of Canada is considering two key insolvency related cases where their findings could have significant ramifications on the financing of companies with pension plans and/or potential for environmental liability....more

The PPA Does Not Prevent Employers From Withdrawing From a Pension Plan In “Critical Status”

by Lowenstein Sandler LLP on 8/21/2012

In Trustees of Local 138 Pension Trust Fund v. F.W. Honerkamp Co. Inc., (2d Cir. Aug. 17, 2012), the Second Circuit Court of Appeals unanimously affirmed a District Court finding that the Pension Protection Act of 2006 (the...more

Bankruptcy Alert: The KERP Is Back!

by Lowenstein Sandler LLP on 7/25/2012

In a recent decision involving Global Aviation Holdings, Inc. and its affiliated debtors (collectively, the “Debtors”), the United States Bankruptcy Court for the Eastern District of New York (the "Bankruptcy Court") granted...more

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Labor & Employment Law › Finance & Banking › Bankruptcy

Nonresident Employee Avoids New York Taxes On Deferred Compensation Payment

Changes Afoot for ERISA “Reportable Event” Rules

District Court Limits the Collection of Withdrawal Liability Against Private Equity Funds

PBGC Proposes New Regulations Under Reportable Events Rule

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

Indalex: What Are the Pension Implications?

New Concerns for Bondholders, Lenders and Other Creditors Following SCC’s Indalex Decision

Indalex: Supreme Court of Canada Decision Released

Supreme Court of Canada Upholds Priority for DIP Lenders in CCAA Proceedings

Obligations To Pensioners In An Insolvency: Supreme Court Clarifies The Law

Supreme Court of Canada Affirms Federal Paramountcy in Insolvency but Leaves Uncertainty for the Credit Community Regarding...

California Dreaming? CalPERS Seeks Payment in Full of All Pension Obligations During Pendency of San Bernardino’s Chapter 9 Case

Bill on Bankruptcy: Patriot Coal Case Kicked From Manhattan To St. Louis [Video]

Limiting Private Equity Fund Exposure to the ERISA Obligations of Portfolio Companies

U.S. Pension ruling offers relief to private equity funds

Bill on Bankruptcy: Who's to Blame for the Hostess Liquidation? [Video]

Bill on Bankruptcy: AMF, Hostess, Kodak, JC Penney, UK Law, Want Ads [Video]

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

Incomes Down, Unemployment Numbers Up – Signs of the Economic Improvement?

Economic Forecast For Slow Growth

Case Alert!! Decisions Which Will Affect Financing of Companies with Pension Plans and Potential Environmental Liability Expected...

The PPA Does Not Prevent Employers From Withdrawing From a Pension Plan In “Critical Status”

Bankruptcy Alert: The KERP Is Back!

Bill on Bankruptcy: Patriot Coal Case Kicked From Manhattan To St. Louis [Video]

Bill on Bankruptcy: Who's to Blame for the Hostess Liquidation? [Video]

Bill on Bankruptcy: AMF, Hostess, Kodak, JC Penney, UK Law, Want Ads [Video]

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