Schafer and Weiner Obtains Favorable Settlement of Pension Fund Withdrawal Liability Judgment

June, 2014

After many months of difficult negotiations with a large Pension Fund, Daniel J. Weiner and John Stockdale, Jr. finalized a settlement of $2.6 million in withdrawal liability.  The settlement resulted in savings of approximately $1.7 million or 66%, and involved a modest cash down payment and the liquidation of the business entities for the benefit of the Pension Fund.  This matter involved several entities, which collectively operated a redi-mix concrete business in Southeast Michigan.  Schafer and Weiner was retained to apply its bankruptcy and transactional experience to obtain a settlement while working in tandem with the client’s separate labor-litigation counsel.