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We are results oriented, pragmatic, candid, innovative and collegial.

CASE STUDIES

american-airlineAMR/American Airlines

The Challenge

Four pension plans covered over 100,000 participants with an estimated funding deficiency of over $10 billion. If those plans were to terminate, the insurance program would be faced with a huge administrative challenge and a severe blow to its balance sheet.

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kaiserKaiser Aluminum & Chemical Corporation (KACC)

The Challenge

The Pension Benefit Guaranty Corporation (PBGC) had terminated the defined benefit pension plans of KACC and sought to recover on its claims against all of the estates in the bankruptcy.

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lufthansaLufthansa German Airlines and U.S.-Germany Aviation Relations

The Challenge

The aviation treaty signed by the United States and Germany at the end of World War II created a structure in which the benefits of aviation rights were heavily tilted in favor of U.S. airlines.

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nashvilleNew London Service For Nashville, Tennessee

The Challenge

As a result of amendments to the U.S.-UK aviation agreement, three new routes between the United States and London were available to the U.S. Government to be awarded to U.S. airlines. Nashville wanted one of those routes.
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st-vincent.smSt. Vincent's Catholic Medical Centers (SVCMC)

The Challenge

SVCMC went through the Chapter 11 bankruptcy process twice and ultimately liquidated as part of the second bankruptcy. Kelly represented the PBGC in both cases and led efforts to improve the pension plan funding in the first case and maximize the recovery on the PBGC's claims in the second case.
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For our clients we:

Evaluate options for defined benefit plans – single, multiple and multi-employer plans in both the private and public sectors;

Advise sponsors of private defined benefit plans requiring an evaluation of the current issues related to their plans and options available;

Assess transactions and alert pension plan sponsors or potential investors to better understand pension plan liabilities and recommend creative strategies to structure transactions to resolve pension liability issues;

Provide comprehensive guidance regarding the PBGC on any issue including plan termination, 4062(e) liability, the Early Warning Program actions, Reportable Events and Minimum Funding Waivers. We provide guidance to anticipate data requests and demands for recovery or protection from the agency, and respond to any demands already received; and

Plan for and implement the pension plan termination process with the PBGC, inside and outside bankruptcy.

     

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