On April 8, the Second Circuit Court of Appeals reversed the Bankruptcy Court and concluded that special ERISA “termination premiums” due PBGC are not contingent prepetition claims subject to discharge in a chapter 11 reorganization. Pension Benefit Guar. Corp. v. Oneida, Ltd., 2009 WL 929528 (2d Cir. April 8, 2009), rev’g Oneida Ltd. v. Pension Benefit Guar. Corp., 383 B.R. 29 (Bankr. S.D.N.Y., 2008).
USA, Employee Benefits & Pensions, Insolvency & Restructuring, Litigation, Paul, Weiss, Rifkind, Wharton & Garrison LLP, Bankruptcy, Employee Retirement Income Security Act 1974 (USA), Debtor, Unsecured debt, Interest, Liquidation, Joint and several liability, Bankruptcy discharge, Pension Benefit Guaranty Corporation, Title 11 of the US Code, Pension Protection Act 2006 (USA), Second Circuit, United States bankruptcy court, US District Court for the Southern District of New York
Entry into force on 1 April 2009 of the new Act on the continuity of companies
The Act of 31 January 2009 on the continuity of companies (Loi relative à la continuité des enterprises/Wet betreffende de continuïteit van de ondernemingen, the "Act") entered into force on 1 April 2009.
Belgium, Insolvency & Restructuring, NautaDutilh, Bankruptcy, Debtor, Waiver, Debt, Liability (financial accounting), Mediation