News & Analysis as of

Qualified Settlement Funds

The Eighth Circuit Raises the Bar for Would-Be Indemnitees

by Bilzin Sumberg on

Here is a situation that comes up quite a bit in the world of business contracts containing indemnification provisions, and in the insurance industry as well. First, a party (“Party A”) gets sued, or threatened with a suit,...more

New tax law eliminates NOL carry backs

by Thompson Coburn LLP on

In a blow to certain distressed companies, the Tax Cuts and Jobs Act of 2017 eliminates the ability of taxpayers to carry back net operating losses (“NOLs”) incurred after December 31, 2017, to previous tax years. Under the...more

Keep The Change – The Southern District Of New York Authorizes Claims Administrator To Retain Portion Of Accrued Interest On...

by Carlton Fields on

When class action settlement funds are not amenable to individual claims or to a meaningful pro rata distribution, courts have used the cy pres doctrine to distribute the funds to nonprofit charitable organizations whose work...more

Charges By Law Firm-Owned Vendors Challenged In Putative Client Class

by Carlton Fields on

Plaintiffs signed engagement letters with the law firm Finkelstein & Partners (the “law firm”) to represent them in two separate personal injury lawsuits on a contingency basis. ...more

Developments In Consumer Class Actions In The Seventh Circuit

In four decisions from the past few months, the Seventh Circuit has staked out positions on several cutting-edge consumer class action issues. See In re: Subway Footlong Sandwich Marketing & Sales Practice Litig., 869 F.3d...more

Federal district court denies state AGs’ request to redirect unused CFPB settlement funds to NAAG

by Ballard Spahr LLP on

We previously reported that the Connecticut Attorney General, on behalf of himself and the Attorneys General of Indiana, Kansas and Vermont (the “state AGs”), had filed a joint motion to intervene in a CFPB enforcement action...more

Attorney General bans DOJ settlements conditioned on payments to “special interest groups” or “political friends”

by Ballard Spahr LLP on

On June 7, 2017, Attorney General Jeff Sessions issued a memorandum directing that “Department attorneys may not enter into any agreement on behalf of the United States in settlement of federal claims or charges . . . that...more

CFPB and DOJ file submissions opposing state AGs’ proposal to redirect unused settlement funds to NAAG

by Ballard Spahr LLP on

We previously reported that the Connecticut Attorney General, on behalf of the Attorneys General of Indiana, Kansas and Vermont, (the “state AGs”) had filed a joint motion to intervene in a CFPB enforcement action against...more

No Love For Proposed Consumer Class Settlements

by Carlton Fields on

Two consumer class actions recently hit a roadblock when courts denied final approval for class settlements. In In re Target Consumer Data Security Breach, the U.S. District Court for the District of Minnesota preliminarily...more

Third Circuit Slams The Door On Coverage For The Cost of Defending Excluded Claims—Then Leaves It Wide Open

by Carlton Fields on

An insured corporation settles a class action, and a portion of the settlement pays the plaintiffs’ attorneys. Payments to the class are excluded from coverage under the terms of the corporation’s liability policy. But can...more

Your daily dose of financial news The Brief – 5.13.16

by Robins Kaplan LLP on

We learned yesterday of the effect that broken mergers are having on some hedge funds. Now comes news that, like many other institutional investors, large US insurance companies are yanking huge sums of money out of their...more

A Closer Look At The Fallout From The Home Depot Data Breach

More than a year and a half ago, Home Depot announced that it had been a victim of one of the largest data breaches in U.S. history. Media outlets reported that the breach had affected Home Depot’s customers who had made...more

Time to Review Plan Subrogation Procedures

Most self-funded ERISA medical plans provide that participants who have been injured by other people (think car accidents) must reimburse the plan if the participant recovers from the other person for those injuries. In order...more

Montanile, Amgen, Tackett & Moen: Four Important Employee Benefits Cases to Kick Off 2016

The year 2016 has only just started, and we have already seen several important court decisions related to employee benefit plans and the Employee Retirement Income Security Act of 1974, as amended (ERISA). This Client Alert...more

Supreme Court Interprets ERISA to Limit Remedies Available to Plans to Subrogate and Recover Overpayments

Montanile v. Board of Trustees of the National Elevator Industry Health Benefit Plan is the fourth decision by the U.S. Supreme Court addressing the subrogation rights of self-insured ERISA-covered health plans. Three...more

DOJ Settles Action Alleging Bank Discriminated Against Disability Income Recipients

by Ballard Spahr LLP on

The U.S. Department of Justice recently entered into a consent order with Evolve Bank & Trust to settle charges that the bank discriminated against mortgage loan applicants on the basis of disability and receipt of public...more

Recent Supreme Court Decision Limits ERISA Plans’ Ability to Recover Benefits Paid to Injured Employees Who Later Receive...

by K&L Gates LLP on

It’s a common scenario when dealing with a benefit plan governed by the Employee Retirement Income Security Act of 1974 (ERISA): an employee participating in the plan is injured by a third-party, the plan pays covered medical...more

Supreme Court: Health Plan Recovery Of Expenses Can Be Thwarted By Spendthrift Participant

by Barley Snyder on

In an 8-1 decision issued yesterday, the U.S. Supreme Court ruled that a health plan’s right of recovery against a plan participant who obtains an award from a third party found responsible for the participant’s injuries can...more

U.S. Supreme Court Limits ERISA Plan’s Subrogation Rights Where Participants Have Dissipated Funds Recovered from Third Parties –...

by Dechert LLP on

Over the years, the U.S. Supreme Court from time to time has explored the scope of equitable relief available under the Employee Retirement Income Security Act of 1974 (“ERISA”) in circumstances where an employee benefit plan...more

SCOTUS Rejects Plan’s Right to Dissipated Assets

by Ballard Spahr LLP on

The U.S. Supreme Court has ruled that an ERISA plan has no right to recover benefits paid on behalf of a participant where the participant has already dissipated settlement funds received from a third party. In...more

U.S. Supreme Court Decision in Montanile Applies Principles of Equity to Reach an Absurdly Inequitable Result Regarding ERISA Plan...

by Davis Wright Tremaine LLP on

“A” gets hit by a drunk driver and incurs $121,044 in medical expenses. The ERISA Plan agrees to pay the expenses if “A” contractually agrees to reimburse the Plan for any recovery obtained as the result of any legal action...more

Supreme Court Provides More Guidance Regarding Health Plan Subrogation Claims

by Snell & Wilmer on

On January 20, 2016, the Supreme Court handed down yet another case addressing health plan subrogation. From the Supreme Court’s earlier decision in Sereboff v. Mid Atlantic Medical Services, Inc. (547 U.S. 356) (2006),...more

ERISA: 11th Circuit Says “Show Me The Money” In Equitable Recovery Of Medical Expenses Even After Disbursement Or Commingling Of...

by Lane Powell PC on

Can the Plan get reimbursed even when the beneficiary’s settlement funds have been disbursed or commingled? Yes in the 11th Circuit. But watch out in the 9th Circuit....more

NuvaRing Settlement Update

Merck announced on June 4, 2014, that it would be funding the $100 million dollar NuvaRing settlement announced in February of this year, as the 95% plaintiff participation threshold required by the Settlement Agreement has...more

Structured Settlement Planning for Trial Attorneys: The Benefits of Using Qualified Settlement Funds and Private Placement...

by Gerald Nowotny on

Overview - Trial attorneys are extremely vulnerable to a tax landscape that is becoming hostile territory. The result of the American Taxpayer Relief Act of 2013 (ATRA) is that earned income is taxed at substantially...more

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