- 11 U.S.C.
Collins & Aikman Corp. v. Northern Trust Bank of Cal. (In re Collins & Aikman Corp.)
Aug
09
2006
Ruling
Debtors were entitled to turnover of "rabbi trust" assets.
Procedural posture
Plaintiffs, corporate debtors, filed a complaint against defendant, the trustee of a grantor trust or "rabbi trust" that the debtors, as employers, established to create a source of funding for otherwise unfunded benefit plans. The complaint sought the turnover of all assets of the trust. The trust beneficiaries moved to intervene claiming they were entitled to the assets of the trust. The debtors moved for summary judgment.
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Court
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