If you like thinking about the way lawyers use words and how and why that usage is different from the way normal people, er, I mean, non-lawyers use words, take a moment this Friday afternoon to read Language Log’s take on the New Jersey case of a slip-and-fall verdict overturned because a law professor subsequently wrote an article about his experience on the jury, including his efforts to help explain what “proximate cause” means.
In to the glamorous world of ERISA and pensions, former star quarterback Michael Vick now finds himself (via ESPN.com):
The federal Department of Labor is accusing imprisoned NFL star Michael Vick of illegally withdrawing more than $1.3 million from a pension plan . . . .
The department says Vick made a series of prohibited transfers from a pension plan sponsored by MV7, a celebrity marketing company owned by the former Atlanta Falcons quarterback. The department alleges that Vick violated his duties as trustee of a pension plan that covered nine current or former MV7 employees . . . .
The department says the plan assets were partially used to help pay the criminal restitution imposed on Vick after his federal dogfighting conspiracy conviction.
You see, my friends, ERISA is all about relevancy, and if Vick’s financial advisors had bothered to contact an ERISA attorney, they would have been told about such things as fiduciary duties and prohibited transactions by fiduciaries under Part 4 of Title I of ERISA. My thought is this further mess for Vick could have been easily avoided if an attorney just recognized the potential legal consequences of Vick delving into his company’s pension plan.
Not only will Vick be required to make the pension plan whole, but he will also face penalties and interest. Ouch.
Not exactly how Vick wants to start off his new life after prison. And did I mention Vick has already filed for bankruptcy?
The semifinal round of this spring’s Jenkins Moot Court Competition took place last night. As previously described, sixteen top students from the Appellate Writing and Advocacy Class were invited to compete in the Jenkins Competition, in teams of two. Last week, that field of eight teams was narrowed to four. Last night’s arguments narrowed the competition to the final two teams. The finalists are Alyssa Dowse and Timothy Sheehey, arguing against Jessica Farley and Brent Simerson.
Congratulations and good luck to the finalists. The final argument will take place at the Milwaukee Federal Courthouse at 6 p.m. this Thursday, April 2. Join us to see two terrific oral arguments, and the exciting outcome of the year’s competition. More information about the competition and the schedule of the events on Thursday, including the argument and the reception afterwards, can be found here.