High Court: Enforcement Of Equitable Lien Against General Assets Is Not Equitable Remedy

Mealey's (January 20, 2016, 12:05 PM EST) -- WASHINGTON, D.C. — The U.S. Supreme Court ruled 8-1 on Jan. 20 that an employee welfare plan fiduciary may not bring a suit under Employee Retirement Income Security Act Section 502(a)(3) to attach a participant’s separate assets when the participant wholly dissipated a third-party settlement on nontraceable funds, concluding that such a suit was not permissible “equitable relief” (Robert Montanile v. Board of Trustees of the National Elevator Industry Health Benefit Plan, No. 14-723, U.S. Sup.).

(Opinion available. Document #54-160210-005Z.)

The 11th Circuit U.S. Court of...
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