Latham & Watkins global restructuring co-chair Mitchell Seider, and employment and benefits partner Lori Goodman, recently sat down with Debtwire senior legal content specialist Richard Goldman to discuss the treatment of underfunded pension plans and other post-employment benefit (OPEB) obligations in today’s distressed market. During their conversation, the panelists address how limited recoveries afforded to retirees under Chapter 11 have forced those creditors to seek alternative avenues of relief, highlighted by the successful assertion of “controlled group” liability against private equity sponsor Sun Capital, as well as the failed ERISA litigation against Walter Energy’s Canadian affiliate and assets.
CLICK HERE for the Debtwire Podcast.
CLICK HERE for a Latham & Watkins video discussing the Walter Energy Canada decision.
CLICK HERE for Latham & Watkins’ client alert on the Walter Energy Canada decision.
CLICK HERE for Latham & Watkins’ white paper on the development of US law on pension and OPEB claims in bankruptcy.