'The Good, The Bad And The Ugly' Of ESOPs

Law360, New York (October 2, 2009, 12:14 PM EDT) -- Much like the classic “Spaghetti Western” classic film “The Good, the Bad and the Ugly,” Employee Stock Ownership Plans (ESOPs) have supporters as well as critics. This is evident by some recent legislative and judicial developments involving ESOPs over the past several months.

The Good

On Aug. 6, Sen. Blanche Lincoln, a pro-ESOP Democratic Senator from Arkansas, introduced Senate Bill S 1612 which was entitled the "Employee Stock Ownership Plan Promotion and Improvement Act of 2009." The bill is co-sponsored by Sen. Mary Landrieu, D-La., who...
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