The Government is proposing to amend (for a twelfth time!) the Regulations under s75 Pensions Act 1995. The amendments would make it easier to vary the basis on which liability is shared between employers.
Background – the Regulations as they stand
CONSTRUCTION LEGAL EDGE This newsletter is informational only and should not be construed as legal advice. 2017, Pietragallo Gordon Alfano Bosick & Raspanti, LLP. All rights reserved. SUMMER 2017
ARTICLES CONTAINED IN THIS ISSUE OF THE CLE: 1 3D Printing is Changing Construction 2 Attack of the Drones: Are You Insured? 3 Third Circuit Cautions Contractors about the Scope of the
Bankruptcy Automatic Stay 4 Avoiding Liability for Injuries to Downstream Employees through
Mata, et al., v. Eclipse Aerospace, Inc. (In re AE Liquidation, Inc., et al.) Case No. 08-51891, 2011 BL 51047 (Bankr. D. Del. Feb. 28, 2011)
CASE SNAPSHOT
The Senate begins debate today on a bill to prevent the insolvency of the Highway Trust Fund. The bill, already passed by the House and supported by the White House, provides the best chance for Congress to prevent the projected insolvency given the upcoming August recess. Although the Senate is considering four amendments to the bill, under the short time frame before recess and the urgency to pass a stopgap measure, the bill is likely to pass without amendment so that it will not have to return for another vote in the House.
ON THE HILL
In a recent decision1 involving Global Aviation Holdings, Inc.
Last month, the United States Court of Appeals for the Eleventh Circuit upheld the Bankruptcy Court and United States District Court for the Middle District of Florida determination that the authorized swapping of parts among aircraft to maximize efficiency “did not and could not commingle the participants’ ownership interests.” In re Avantair Inc., No. 15-10303, slip op. (Eleventh Circuit, February 3, 2016). The ruling helps to clarify uncertainties regarding the legal status of fractional ownership arrangements.
Brief Overview
With the latest wave of bankruptcies sweeping the aviation and airline industries, you will find bankers and lawyers sweating over the priority and perfection of their aircraft liens. These bankruptcies seem to have a different character when contrasted with the bankruptcies of 2002 through 2004. Many of the 2008 bankruptcies are operational shut-downs and liquidations rather than restructurings. That means that the status of creditors (as secured or unsecured) is going to become acutely relevant and will determine how much the bankruptcy affects the creditor's financial outcome.
With the latest wave of bankruptcies sweeping the aviation and airline industries, you will find bankers and lawyers sweating over the priority and perfection of their aircraft liens. These bankruptcies seem to have a different character when contrasted with the bankruptcies of 2002 through 2004. Many of the 2008 bankruptcies are operational shut-downs and liquidations rather than restructurings. That means that the status of creditors (as secured or unsecured) is going to become acutely relevant and will determine how much the bankruptcy affects the creditor's financial outcome.