On August 24, 2022, the U.S. Court of Appeals for the Second Circuit approved of a district court’s orders for garnishment of retirement accounts to satisfy a restitution order under the Mandatory Victims Restitution Act, notwithstanding the Consumer Credit Protection Act and the anti-alienation provisions of the Employee Retirement Income Security Act of 1974, but vacated and remanded for a determination of the impact of a potential 10% tax on early distributions. United States v. Shkreli, 47 F4th 65 (2d Cir. 2022).
This excerpt is from an article published in the eNewsletter of the Insolvency Law Committee of the California Lawyers Association on December 5, 2022. View the article here.
Book Recommendation
In light of the heavy litigation underlying this opinion, today’s book recommendation is the Federal Court Civil Litigation Checklist. Anyone who has attempted to assemble their own comprehensive checklist can attest to its difficulty. Now you can buy one instead! View on Amazon.
I personally recommend this book, and this is not sponsored. But I must disclose that this is an affiliate link. This means I earn a small commission if you use this link to buy the book. Thank you.
