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Kathy s #Mailbag, Jan 19, 2024

An eclectic mix of questions this week, including a few that aren’t complaints. (Thanks, readers!) A new restaurant is coming to Atkins Golf Club this spring … whether eminent domain

United statesNew lenoxChampaign countyMeadowbrook parkStone creekAbbie rogiersDerek liebertKathy reiserKris koesterJim buyzeJohn hallDustin heuermanGreatbanc trust company in lisleHousing developmentAtkins golf clubSteakn shake

Fiduciary Obligations in a Re-Leveraging Transaction Heads to Court: Shipp v Central States Manufacturing, Inc , Case 5:23-cv-05215-TLB | ArentFox Schiff

On November 28, three participants in Central States Manufacturing, Inc.’s employee stock ownership plan (ESOP) filed a complaint on their own behalf and on behalf of other ESOP.

Arentfox schiffDepartment of labor field assistance bulletin noCentral states manufacturing incGreatbanc trust companyUs department of laborCentral states manufacturingEmployee retirement income security actLabor field assistance bulletinField assistance bulletinStates manufacturing

Central States Manufacturing Re-Leveraging Transaction Trial

Central States Manufacturing Re-Leveraging Transaction Trial
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Department of labor field assistance bulletin noCentral states manufacturing incUs department of laborGreatbanc trust companyCentral states manufacturingEmployee retirement income security actLabor field assistance bulletinField assistance bulletinStates manufacturing

Trustee GreatBanc Trust, Company Executives Sued for Disputed ESOP Sale, Valuation

Former employees are suing GreatBanc Trust Co. and executives from Buckeye Corrugated Inc., a national packaging and display products manufacturer, over the latter’s 2018 sale.

United statesNew yorkJon mcgurkEric finkleRyan jennyJustin whippleMark hustedGregory porterDoug bosnikGreatbanc trust coEastern divisionUs district courtWorthman wasowBuckeye corrugated incBailey glasserGreatbanc trust company

A Step Towards Guidance Instead Of Regulation By Litigation In The ESOP Space - Employment Litigation/ Tribunals

ESOPs, their sponsors and participants, and other industry players will welcome the news announced by the ESOP Association on April 14, 2023, that the DOL has committed to move forward with public notice-and-comment rulemaking .

United statesMichael popkeDepartment of laborSecurity administrationAcetylene supply coEmployee benefits security administrationAssociation petitionsFarmers natl bankServs incGreatbanc trust companyConsulting grpGreatbanc trust coReliance trust companyEmployee stock ownership plansAdministrative procedure actEmployee retirement