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Full-Text Articles in Bankruptcy Law
Erisa: Anti-Alienation Superiority In Bankruptcy, George Lee Flint Jr
Erisa: Anti-Alienation Superiority In Bankruptcy, George Lee Flint Jr
Faculty Articles
Both ERISA and the Bankruptcy Code consider the issue of debtor-participant’s interest in certain pension trusts when an action has been undertaken against the bankrupt debtor participant’s estate. Many jurisdictions have offered conflicting views on the handling of the interest. These conflicts create litigious interpretation and choice of law problems and place plan administrators at risk for breach of fiduciary duty depending on jurisdictional interpretation. Paying-out a bankruptcy trustee’s turnover demand could affect the tax qualified status of the pension plan, thereby hurting all plan participants. ERISA’s preemption provision was drafted to create uniformity among the states in interpreting employee …