Officers are presumptively disqualified from KERPs, “absent a strong showing that they do not perform any significant role in management,” a district judge in New York says.
A properly drafted union contract still failed to leave a company officer with a nondischargeable debt for failing to make employer contributions to a union welfare fund.
Magistrate judge decided that the regulatory power exception to the automatic stay allows the EEOC to proceed, but he stayed the suit by the former employee seeking damages.
Third Circuit also holds that turnover in Section 542(a) is not automatic. The debtor must mount an adversary proceeding to obtain a turnover of property.
