Winter Leadership Conference | December 5-7 | Rancho Palos Verdes , CA Register Today View Schedule

In re Washington Mut. Inc.

Ruling: 
Assets held in trusts in connection with deferred compensation "top hat" rabbi trust plans were not property of the estate and not subject to constructive trust in favor of plan participants.
Procedural posture: 
Debtors moved for an order declaring them the owners of, and were entitled to, certain assets held in trusts created in connection with deferred employee compensation (top hat) rabbi trust plans that had been established by a predecessor to one of the jointly administered debtors, and which held in excess of $69 million. Participants in those plans asserted a constructive trust should be imposed on the assets for their benefits.
Issue: 
ABI Membership is required to access the full summary of In re Washington Mut. Inc.. Please sign in if you are already an ABI member, or otherwise you may Become an ABI Member
Commercial case opionion summary, case decided on June 01,2011, LexisNexis #0611-127