ERISA Pre-Emption Does Not Offer a “Get Out of Jail Free Card” for an ESOP’s D&Os
Gordon Z. Novod - November 2021
Creditors of all sorts have come to rely on a baseline of rights and remedies to protect their interests from corporate malfeasance and misconduct. These protections include common law rights of actions for breaches of fiduciary duties, as well as statutory prohibitions on unlawful corporate dividends.