Preserving some portion of the non-qualified plan benefits of a bankrupt company

I have blogged several times about the difficulties of preserving non-qualified plan benefits, particularly when the plan sponsor goes bankrupt. At the time of a bankruptcy, the company's non-qualified plan becomes nothing more than an unfunded promise to pay benefits and participants usually have to get in line with the company's other creditors. The recent decision in Tate v. General Motors LLC (56 EBC 1363, 6th Cir.

Filed under:
USA, Employee Benefits & Pensions, Insolvency & Restructuring, Litigation, Winston & Strawn LLP, Bankruptcy, Deferred compensation, Retirement
Location:
USA
Firm:
Winston & Strawn LLP
A scheme actuary’s calculation of the sponsoring employer’s debt cannot be challenged by insolvency practitioners in the absence of fraud or error

Gleave and others v The Board of the Pension Protection Fund [2008] EWHC 1099 (Ch)

The High Court ruled that calculations of employer debt by scheme actuaries cannot be challenged by insolvency practitioners unless there is evidence of fraud or error.

Filed under:
United Kingdom, Employee Benefits & Pensions, Insolvency & Restructuring, Litigation, Norton Rose Fulbright, Fraud, Board of directors, Debt, Retirement, Valuation (finance), Actuary, Pension Protection Fund, High Court of Justice
Location:
United Kingdom
Firm:
Norton Rose Fulbright
Gleave and others v Board of the Pension Protection Fund

[2008] EWHC 1099 (Ch)

The High Court has ruled that calculations of employer debt by scheme actuaries cannot be challenged by insolvency practitioners unless there is evidence of fraud or error.

Filed under:
United Kingdom, Employee Benefits & Pensions, Insolvency & Restructuring, Litigation, Norton Rose Fulbright, Fraud, Debt, Retirement, Valuation (finance), Actuary, Pension Protection Fund, High Court of Justice
Location:
United Kingdom
Firm:
Norton Rose Fulbright