Liability for fiduciary breach not dischargeable in personal bankruptcy

The Department of Labor (“DOL”) sued the president of several related companies to establish his personal liability for more than $67,000 in employee contributions never remitted to the employer sponsored benefit plans and to prevent him from discharging this liability in his pending personal bankruptcy action. Over a nearly three-year period, the companies withheld but never remitted the employee contributions to the companies’ group health and 401(k) plans (the “Plans”).

Filed under:
USA, Employee Benefits & Pensions, Insolvency & Restructuring, Litigation, Haynes and Boone LLP, Employee Retirement Income Security Act 1974 (USA), Fiduciary, US Department of Labor
Location:
USA
Firm:
Haynes and Boone LLP
Investment adviser Ivy Asset Management settles Madoff lawsuits for $210 million - installment 86

On November 13, 2012, the U.S. Department of Labor (the “DOL”) issued a press release entitled “US Labor Department Recovers Nearly $220 Million for Madoff Victims.” On the same day New York Attorney General Eric T. Schneiderman (the “NYAG”) issued a press release entitled “A.G.

Filed under:
USA, Insolvency & Restructuring, Litigation, White Collar Crime, Fox Rothschild LLP, Fiduciary, US Department of Labor, New York Attorney General
Authors:
Michael J. Kline
Location:
USA
Firm:
Fox Rothschild LLP
Open Range Communications files bankruptcy seeking to either sell assets or wind down operations

Introduction

Filed under:
USA, Delaware, Insolvency & Restructuring, Litigation, Fox Rothschild LLP, Bankruptcy, Landlord, Leasehold estate, Broadband, Liquidation, Federal Communications Commission (USA), US Department of Labor, US Department of Agriculture, Chief financial officer, United States bankruptcy court, US District Court for District of Delaware
Authors:
L. Jason Cornell
Location:
USA
Firm:
Fox Rothschild LLP