Case Study: In Re Marcal Paper Mills

Law360, New York (October 19, 2011, 2:42 PM EDT) -- The Court of Appeals for the Third Circuit decided an issue of first impression in In re Marcal Paper Mills Inc, No. 09-4574 (3rd Cir. June 16, 2011), holding that a Chapter 11 company that withdraws from a multiemployer pension plan incurs administrative expense liability for that portion of withdrawal liability attributable to employee work performed during the postpetition period.

The Third Circuit's Marcal decision seems to follow the established test for administrative expense liability articulated in the Jartan and Mammoth Mart cases — i.e., that...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.