News & Analysis as of

Trustees

Samson Resources Preference Actions Filed In Delaware

by Fox Rothschild LLP on

Starting on September 12, 2017, Peter Kravitz, as Settlement Trustee of the Samson Settlement Trust, filed approximately 293 complaints seeking the avoidance and recovery of allegedly preferential and/or fraudulent transfers...more

Can the Beneficiary of a Special Needs Trust Change the Trustee?

The beneficiary of a special needs trust can never control or access trust funds – that is the job of the trustee. A common fear among beneficiaries or their families is that the trustee may not do what’s in the beneficiary’s...more

S.D.N.Y. Grants in Part and Denies in Part Trustee Bank of New York Mellon’s Motion for Summary Judgment in Suit Brought by...

On September 7, 2017, Judge Valerie Caproni in the United States District Court for the Southern District of New York granted the majority of RMBS trustee Bank of New York Mellon’s (“BNYM“) summary judgment motion and denied...more

Draft Legislation Published on UK Partnership Taxation

by Goodwin on

Earlier this year, HM Revenue & Customs published various ideas to ‘clarify’ the tax treatment of partners in partnerships, as part of its response to a consultation on changes to the taxation of UK partnerships. Draft...more

Finally, Confirmation that Finality and Protections are Available to Trustees Under the Ohio Trust Code  

by Reminger Co., LPA on

Years after the initial enactment of the Ohio Trust Code and articles published in this journal the Tenth District Ohio Court of Appeals in Zook, et al. v. JP Morgan Chase Bank National Association, et al., 10th Dist. No....more

Project planning for GDPR compliance: UK pension schemes

by Allen & Overy LLP on

The General Data Protection Regulation takes effect from 25 May 2018, and will require significant planning and preparation by UK pension schemes. Although many of the basic concepts set out in the GDPR will be familiar,...more

Chris Lazarini Examines Unconscionability Claims in Arbitration Clause

by Bass, Berry & Sims PLC on

Bass, Berry & Sims attorney Chris Lazarini examined a case in which a plaintiff filed a breach of fiduciary duty claim in federal court and opposed defendants' efforts to move the claims to arbitration. The plaintiff claimed...more

Every Day is Bitcoin Pizza Day: What Clients and Estate Planners Need to Know about Virtual Currency

by Murtha Cullina on

The combined value of all of the 867 crypto currencies tracked by CoinMarketCap.com is presently over $161 billion. Only seven years ago, on what is commemorated as “Bitcoin Pizza Day,” Bitcoin, then a new crypto currency,...more

Data Protection Changes: What Will Pension Scheme Trustees Need to Do to Comply?

by Reed Smith on

The General Data Protection Regulation (GDPR) comes into effect on 25 May 2018. Prior to that date, we are in a transitional period during which organisations need to prepare for compliance. There will be no further ‘grace...more

Courts, Cooperation, and More: Incorporating Case-Specific Provisions in Insolvency Protocols - September 2017

by Jones Day on

In cross-border restructuring cases, interested parties increasingly rely on court-approved insolvency protocols to aid in managing complex insolvencies involving debtors' assets, liabilities, or operations that span...more

Look! Up in the Sky! It’s Sibling Lawyer!

by Downey Brand LLP on

I’m a sibling lawyer. My career started early, as a middle child, and now continues as a Sacramento-based trust and estate litigation attorney. Most of my clients are grappling with sisters or brothers over the care and...more

S.D.N.Y. Denies Plaintiffs’ Sampling Motion in Consolidated Actions Against RMBS Trustee

On August 21, 2017, Judge Katherine Polk Failla of the United States District Court for the Southern District of New York upheld a magistrate’s order denying plaintiff-certificateholders’ motion to attempt to prove their...more

New anti-money laundering regulations: action for pension scheme trustees

by Hogan Lovells on

Pension scheme trustees should be aware of requirements under new money laundering regulations to record information and, in some cases, to give the information to third parties and to register the information with...more

T&E Litigation Newsletter - August 2017

by Goulston & Storrs PC on

In Passero v. Fitzsimmons et al., No. 16-P-1314, 2017 WL 3567496, (August 17, 2017), the Appeals Court affirmed the lower court’s finding that the defendant trustees committed a breach of trust, as well as the lower court’s...more

How A POA Can Change Your Will

by Fox Rothschild LLP on

The Delaware Supreme Court has just reached a decision that highlights the importance of taking the time to review your estate planning documents each and every year to ensure that the documents still fit, and not...more

Delaware Bankruptcy Court Dismisses Claims Against Echo/RT Holdings In Raytrans Bankruptcy Case

by Fox Rothschild LLP on

In the recent decision of Klauder v. Echo/RT Holdings LLC (In re Raytrans Holding, Inc.), Adv. No. 15-50273 (CSS) (Del. Bankr. Aug. 10, 2017), Judge Sontchi granted Defendants’ Motion to Dismiss the Trustee’s Second Amended...more

For your DC trustee agenda: current legal issues

by Allen & Overy LLP on

Welcome to our monthly update on current legal issues for trustees of DC pension schemes, designed to help you stay up to date with key developments between trustee meetings, and to support the legal update item on your next...more

Shifting the onerous: onerous land disclaimed by bankruptcy trustees can also become onerous for lenders

by Dentons on

This update deals with “onerous property” and the issues involved when a trustee in bankruptcy disclaims onerous land, including the potential impact on lenders....more

The German Transparency Register is coming: New obligations for legal entities in Germany to disclose beneficial ownership...

by Dechert LLP on

Highlights - - Implementation of a public Transparency Register on beneficial ownership of legal entities. - Notification obligation applies to incorporated companies and certain other legal entities and arrangements;...more

Pensions in Dispute

by Allen & Overy LLP on

The Court of Appeal has ruled on two long-running disputes about the ability of an employer to change pension benefits for future service (for example by closing a scheme to future accrual and/or capping pensionable pay). The...more

Removed Corporate Trustee’s Refusal to Turnover Trust Assets to Individual Trustee Was Prudent and Appropriate

by Farrell Fritz, P.C. on

One of the most important considerations in creating a trust is selecting the appropriate trustee. Oftentimes this involves determining whether a corporate trustee is appropriate as either the sole trustee or together with...more

Pa. Supreme Court Upholds Trustee Replacement Rules

by Barley Snyder on

A recent Pennsylvania Supreme Court case clarified the ability of the beneficiaries of a trust to remove a corporate trustee. In a highly anticipated case, the Court unanimously refused to permit the beneficiaries of an...more

Court Enters Verdict for Bank of New York Mellon in Ohio RMBS Trustee Litigation

On August 4, 2017, Judge Steven E. Martin of the Ohio Court of Common Pleas rendered a full verdict in favor of Defendant-Trustee The Bank of New York Mellon (“BNYM“) in Western and Southern Life Insurance Company, et al. v....more

Who Will Take Care of Your Pet After Your Death?

by Pessin Katz Law, P.A. on

Have you ever wondered who will take care of your pet after your death? Maryland has a pet trust law allowing owners to set aside funds for their pet’s care and to provide for a care taking system for their pet...more

Proposed Class Accuses Deutsche Bank of Improperly Using Funds for Legal Defense

On August 4, 2017, Royal Park Investments SA/NV filed a proposed class action against Deutsche Bank National Trust Co. (“DBNTC“) in the U.S. District Court for the Southern District of New York, claiming that DBNTC—in its...more

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