ARLINGTON, Va., Oct. 17, 2022 /PRNewswire/ -- Bloomberg Tax & Accounting today announced the release of a new Tax Management Portfolio, Employee Benefits in Bankruptcy. Authored by James D. Newell, William H. Schorling, and Mark Pfeiffer of Buchanan Ingersoll & Rooney PC, and Matthew D. Clyde of Cozen O'Connor, P.C., the Portfolio addresses the interplay of benefits and bankruptcy law.
The Portfolio offers guidance for the frequent instances in which the goals of the Employee Retirement Income Security Act of 1974 (ERISA) are in conflict with the goals of the United States Bankruptcy Code (the Bankruptcy Code). While ERISA is designed to encourage the continuation and maintenance of voluntary private pension plans for the benefit of their participants and to provide for the timely and uninterrupted payment of pension benefits, the Bankruptcy Code is designed to provide a fresh start to honest but unfortunate debtors unable to pay their obligations.
This Portfolio addresses the impact of insolvency and bankruptcy on the termination of pension and welfare benefit plans and the treatment of pension and welfare benefit plans and claims in bankruptcy. The interplay of benefits law and bankruptcy has resulted in significant litigation. The Portfolio addresses the court decisions, especially when the courts have disagreed.
"We are proud to develop one of the industry's most comprehensive and up-to-date portfolios to provide direction regarding the intersection of...
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