ERISA Successor and Affiliate Liability
Navigating Controlled Group and Successor Liability Rules for Defined Benefit Pension Plans
Recording of a 90-minute CLE webinar/teleconference with Q&A
Conducted on Wednesday, February 1, 2012
Recorded event now available
This CLE webinar will review theories under which an entity can be held liable for unpaid or underfunded employee benefit plan liabilities of another entity, discuss evolving case law and regulatory developments, and offer best practices for avoiding exposure to benefit plan liabilities of affiliate companies.
Description
Given the distressed nature of many company pension plans, the PBGC and multi-employer pension plans are increasingly seeking solvent entities to satisfy pension claims. There has been significant litigation by multi-employer plans to impose controlled group liability on affiliated companies.
Likewise, the PBGC has aggressively raised controlled group liability for defined benefit pension plans terminated in bankruptcy. For example, the PBGC has ruled that a private equity fund and its portfolio companies are liable for an underfunded pension plan sponsored by one of the portfolio companies.
Successor liability and alter ego are similar means of targeting deep pockets to satisfy underfunded or unpaid benefit plan liabilities in the context of M&A asset sales. In such cases, purchasers can find themselves liable for sellers’ delinquent contributions to their multi-employer pension and welfare plans.
Listen as our authoritative panel of ERISA attorneys guides you through the controlled group and successor liability rules for affiliate entity liability for unfunded or underfunded benefit plans.
Outline
- Controlled group liability
- Identifying controlled group members
- Defending liability assessments against alleged controlled group members
- Analyzing potential liability of controlled group
- Private equity fund liability for plan liabilities of portfolio companies – PBGC ruling and activity
- Successor liability
- Successor liability for multiemployer plans
- Successor liability for single employer plans
- Alter ego liability
Benefits
The panel will review these and other key questions:
- How has controlled group liability been sought by multi-employer plans and the PBGC in the current economic climate?
- What steps can buyers in asset purchase deals take to minimize successor liability for the seller's plan liabilities?
- What impact can ERISA affiliate liability of equity funds and their portfolio companies have on the structuring of private equity deals?
Faculty
Michael J. Prame,
Principal
Groom Law Group, Washington, D.C.
He represents plan sponsors, administrators and trustees in fiduciary litigation and executive compensation lawsuits. He also represents recordkeepers, actuaries, benefit consultants and other plan professionals in litigation and regulatory investigations related to services they perform for plan sponsors and administrators. He has extensive experience in class actions and multi-party litigation.
Lars C. Golumbic,
Principal
Groom Law Group, Washington, D.C.
He focuses his practice on litigation matters related to ERISA, including suits involving plan sponsors, recordkeepers, actuaries and other service providers. He defends plan sponsors and plan service providers in governmental investigations, and he counsels clients on fiduciary matters related to ERISA. He also represents clients on matters related to plan funding and termination.
Ordering
Online CLE - Audio Recording
Includes audio streaming of full program plus handouts (available 24 hours after live seminar).
CLE:
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Online CLE Audio $297.00
Available 24 hours after the live event
Recorded Event
Includes full event recording plus handouts (available after live seminar).
CLE: Pre-approved for self-study credit in: AK, AZ, CA, CT, HI, MO, MT, NY, TX, VT, WA, WV. Upon request, self-study credit is also available in: CO, FL, GA, ID, KY, ME, ND, NE, NH, NM, NV, OR, UT, WI, WY. If you are applying for self-study credit in one of these states, contact Strafford CLE at 1-800-926-7926 ext. 35 or CLE@straffordpub.com.
Webinar Download (Slide Presentation with Audio) $297.00
Available three business days after the live event
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plus $9.45 S&H
Available ten business days after the live event
MP3 Download (Audio with Slide PDFs) $297.00
Available 24 hours after the live event
CD (Audio with Slide PDFs) $297.00
plus $9.45 S&H
Available ten business days after the live event
CLE on Live Webinar
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Program Materials
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Program Materials
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CLE Credit
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Customer Reviews
Excellent topics, discussed very well.
McClure King
Dearborn National
High quality content, good speakers, and convenient to do over the web.
Ed Moomjian
Udall Law Firm
The panelists covered the topic well and in depth.
Andrea Mealey
Edwards Angell Palmer & Dodge
The speakers were knowledgeable and presented useful information.
Karen Shaffer-Levy
Reed Elsevier
The speakers included a significant number of best practices, which are critical to application of the law.
Deirdre J. Kamber
Fitzpatrick Lentz & Bubba
Employment & ERISA Advisory Board
Partner
Littler Mendelson
Partner
Perkins Coie
Partner
Wick Phillips
Shareholder
Littler Mendelson
Shareholder
Greenberg Traurig
Partner
Gibson Dunn & Crutcher
Partner
Gladstone Michel Weisberg Willner & Sloane
Shareholder
Greenberg Traurig
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