Trust Funds

News & Analysis as of

Delaware Supreme Court Permits Stockholders to Overcome Corporation’s Attorney-Client Privilege for “Good Cause”

On July 23, 2014, the Delaware Supreme Court in Wal-Mart Stores, Inc. v. Indiana Elec. Workers Pension Trust Fund IBEW held that plaintiff stockholders, who make a showing of good cause, can inspect documents concerning a...more

CERCLA Contribution and Trust Funds: A Matter for State Law

The Second Circuit Court of Appeals in New York recently held that the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA), commonly known as Superfund, does not require contribution from...more

Social Security Disability Trust Fund Will Be Empty in Less Than Two Years

If Congress doesn't act, the trust fund that provides a significant portion of federal Social Security Disability Insurance (SSDI) benefits will run dry in 2016, according to testimony at a recent hearing of the Senate...more

Roadmap to the Next Highway Bill

Policy Committees Driving Activity - While the current surface transportation authorization, Moving Ahead for Progress in the 21st Century (MAP-21), is due to expire on September 30th, the Department of Transportation...more

SEC “Common Trust Fund” Exception Narrowly Construed for Private Trust Companies

Recent years have seen a dramatic increase in the number of Private Trust Companies (“PTCs”) established by wealthy families. PTCs are used to consolidate the trustee function of multiple trusts within a family, and because...more

Alabama Legislative Update - Week 10: As Session Moves Towards Close, Budgets Take Center Stage

The 2014 session of the Alabama Legislature is winding and grinding down as lawmakers hammer out the General Fund and Education Trust Fund budgets. Last week saw progress, albeit slow. ...more

Federal Highway Trust Fund Funding Problem Will Hit State Projects This Fall

Absent swift action by Congress, state departments of transportation will begin to have cash flow problems that could delay payments to vendors and slow projects. Without action by the fall, new projects may have to be...more

White House Releases Benefits of Immigration Legislation

The White House recently published comprehensive state-by-state reports detailing the specific benefits of passing new immigration legislation. The reports find that workers’ wages will increase, as well as new tax revenue...more

Mechanics' Lien Trust Fund Debts Not Dischargeable in Bankruptcy – What Were You Thinking?

In a recent unanimous decision, the United States Supreme Court made it more difficult to avoid a bankruptcy debtor discharging a debt tied to "defalcation while acting in a fiduciary capacity." In Bullock, the Court stated...more

Health Care Reform Implementation Update - June 4, 2013

Medicare Trustees released their annual report finding that the Medicare trust fund will be exhausted in 2026, two years later than was predicted last year; over the past two weeks, as Washington has investigated the Internal...more

Medicare Trustees Project Longer Solvency Period for Hospital Trust Fund

A May 31, 2013 report from the Trustees of the Federal Hospital Insurance and Federal Supplementary Medical Insurance Trust Funds projects that the Medicare Hospital Insurance Trust Fund will remain solvent through FY 2026,...more

Patton Boggs Reinsurance Newsletter- March 2013: Minnesota Federal Court Stays Litigation Pending Arbitration

A Minnesota federal court granted motions by the successor to a group of off-shore producer-owned reinsurance companies and their owners to stay an action brought by a cedent pending arbitration of the cedent's claims against...more

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