News & Analysis as of

Pensions Subsidiaries

Genova Burns LLC

Third Circuit Upholds Arbitrator’s Imposition of Parent Company Liability for Pension Withdrawal Liability

Genova Burns LLC on

On August 26, 2021, the Third Circuit confirmed that a corporation remained on the hook for the pension withdrawal liability of its bankrupt subsidiary despite diluting its ownership interest in the subsidiary below 80%, to...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

ERISA Pension Plan Liability? 10th Circuit Rules in Favor of Foreign Parent of U.S. Subsidiary

On paper, the rule is straightforward: if a company sponsors a defined benefit pension plan or participates in a union/multiemployer pension plan in the United States, all members of that company’s controlled group of...more

Carlton Fields

Delaware Chancery Approves a Books and Records Request Concerning Alleged Subsidiary Fraud in Oklahoma Firefighters Pension and...

Carlton Fields on

In Oklahoma Firefighters Pension & Ret. Sys. v. Citigroup Inc., No. CV 9587-ML (VCN), 2015 WL 1884453 (Del. Ch. Apr. 24, 2015), a Delaware Chancery Court judge found that Del. Code Ann. tit. 8, § 220 (“Section 220”) permitted...more

Skadden, Arps, Slate, Meagher & Flom LLP

"Japanese Acquirer Resolves Pension-Related Liabilities of US Subsidiary"

On November 4, 2014, Asahi Tec Corporation (Asahi), a Japanese corporation that acquired U.S.-based Metaldyne Corporation (Metaldyne) in 2007, announced a settlement of its long-running dispute with the Pension Benefit...more

Bracewell LLP

Delaware Supreme Court Rules That Privileged Documents Must Be Produced To Shareholders Investigating Corporate Misconduct

Bracewell LLP on

The Delaware Supreme Court recently held that, in certain circumstances, shareholders may be able to obtain access to privileged, internal documents in order to investigate potential breaches of fiduciary duty. In Wal-Mart...more

Goodwin

Covered Funds Aspects of the Volcker Rule – Frequently Asked Questions

Goodwin on

The Federal Reserve Board, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, and the Securities and Exchange Commission (the "SEC") issued a final rule, and the Commodity Futures...more

Dickinson Wright

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

Dickinson Wright on

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

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