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Bennett Jones LLP

New Pension Priorities in Bankruptcy and Insolvency Are Now Reality

Bennett Jones LLP on

This is an update of our original blog dated April 24, 2023. Bill C-228, An Act to amend the Bankruptcy and Insolvency Act, the Companies’ Creditors Arrangement Act and the Pension Benefits Standards Act, 1985 received Royal...more

Bennett Jones LLP

New Pension Priorities in Bankruptcy and Insolvency Are Closer to Reality

Bennett Jones LLP on

Federal Bill C-228 (the Bill), new legislation intended to improve the protection of, and to extend the super-priority given to claims relating to, defined benefit pension plans in insolvency proceedings, completed third...more

Kerr Russell

Politics And Insolvency: The Saga Of Delphi Retirees

Kerr Russell on

In every insolvency or bankruptcy proceeding, there are winners and losers. Senior secured creditors are often paid in full while general unsecured creditors receive pennies on the dollar. Typically, who gets paid and who...more

Goodwin

Pension Schemes Act 2021: The Impact of New Criminal Liability on Restructuring and Corporate Transactions

Goodwin on

THE PENSION SCHEMES ACT 2021 - The Pension Schemes Bill 2019-20 (“the Bill”) was first published on 16 October 2019. Following the dissolution of the 2017-2019 Parliament at the end of the 2019 session, the Bill was...more

Littler

The Emergency Pension Plan Relief Act Proposes a Bailout of Struggling Multiemployer Pension Plans

Littler on

House Education and Labor Chairman Bobby Scott (D-VA) recently introduced legislation that seeks to rescue multiemployer pension plans (MEPs) facing insolvency. Entitled the Emergency Pension Plan Relief Act (EPPRA), the bill...more

Hogan Lovells

Rocking the boat – Pension Schemes Bill proposals may risk destabilising future restructurings

Hogan Lovells on

The Pension Schemes Bill [HL] 2019-20 (Bill) was re-introduced before Parliament on 7 January 2020. Among its proposed amendments to the Pensions Act 2004 (Act) are new criminal  offences for failing to comply with a...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Proof Again That Small Plans and Their Fiduciaries Can Get Sued

Ary Rosenbaum - The Rosenbaum Law Firm P.C. on

I’ve heard of for years on how small 401(k) plans and their plan fiduciaries don’t get sued. While they are never going to be the target for a class action lawsuit because they don’t have enough assets to justify an ERISA...more

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