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An Explanation of the Dissipation of Settlement Proceeds in ERISA Matters

  • Blog
  • January 22nd, 2018

The Carpenter Tech. Corp. v. Weida, 2018 U.S. Dist. LEXIS 5559, 2018 WL 398297 case provides a great analysis as to the specifically identifiable fund requirement of the Sereboff line of cases; and when that fund is destroyed by "dissipation" under the Montanile case.

This case is a very well-written, and very specific, District Court decision. Consequently, I would recommend, before blindly distributing funds based on Montanile and this case, to consult your state's ethics rules regarding notification to a third-party claim holder to a fund which you possess. Here, the plan was notified of intent to distribute, but it waited nine months to file the action.

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An Explanation of the Dissipation of Settlement Proceeds in ERISA Matters
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