ESOP Formation Post-COVID-19: Current Approaches to Business Succession Planning
Recording Available: Monday, January 25, 2021
With today’s major economic recession faced by businesses due to the ongoing COVID-19 crisis, the Employee Stock Ownership Plans (ESOPs) continues to be an attractive option for companies seeking to address the need for succession planning to sustain competitive advantage in the market.
However, apart from the several advantages it offers, including significant tax benefits, ESOP also presents many critical concerns that must be carefully considered and addressed. Now more than ever, companies and their lawyers must be conversant with the implications of implementing ESOP to ensure that risks are mitigated while having a favorable market position in a post-coronavirus environment.
In this LIVE Webcast, a distinguished panel of key thought leaders and professionals assembled by The Knowledge Group will provide an in-depth discussion of ESOP formation post-COVID-19. Speakers will also offer helpful succession planning tips in maximizing the potentials of ESOPs and navigating possible challenges along the way.
Some of the major topics that will be covered in this course are:
- ESOP Formation Post-COVID-19
- Recent Regulatory Trends and Developments
- Legal Risks and Challenges
- Practical Tips and Best Practices
Hawkins Parnell & Young LLP
Who Should Attend:
- Employee Benefits & Compensation Lawyers and Consultants
- ESOP Lawyers
- Benefits Managers
- Employees and Employers
- Retirement Plan Financial Professionals
- Finance Executives
David assists clients in general corporate matters and in employee ownership, benefit, ERISA, and related business matters, with an emphasis on executive compensation, equity incentive plans, non-qualified deferred compensation, employee stock ownership plans (ESOPs), ESOP transactions, mergers and acquisitions (and related tax planning), and business succession and estate planning. David has served as outside general counsel to numerous corporate clients over the past 32 years. He also frequently appears on behalf of clients in business and employment-oriented defense litigation in state and federal courts throughout the country, before regulatory agencies (e.g., U.S. Department of Labor, California Labor Commissioner, and the U.S. Equal Employment Opportunity Commission), in tax controversies before the Internal Revenue Service and comparable state regulatory agencies, against felony criminal indictments in U.S. Federal Court, and in dispute resolutions of various kinds. David represents corporations in shareholder and non-competition disputes.
David has defended ERISA fiduciaries, plan sponsors, selling shareholders, and investment advisers in ERISA litigation matters involving ESOPs and business transactions in federal and state courts throughout the country in a wide range of controversies covering ERISA fiduciary responsibilities, ESOP valuation disputes, disclosure obligations, investment issues, and tax matters. He has extensive experience in negotiating ESOP, ERISA, and other issues with government regulatory agencies and in representing ERISA fiduciaries in litigation.
Recognized nationally for his experience and expertise in the ESOP and executive compensation field, David is a past chair (1993-1995 and 2005-2007) of the legislative and regulatory advisory committee of The ESOP Association. He also is a past chair of The ESOP Association’s advisory committee chairs council and is a former member of its board of directors. David was honored at the 17th annual conference of The ESOP Association as the outstanding committee chair for 1993-94. He also served for more than ten years as General Counsel to The National Center for Employee Ownership and on its board of directors.
Print and review course materials
Method of Presentation:
General knowledge of ESOP
NY Category of CLE Credit:
Areas of Professional Practice
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About Hawkins Parnell & Young LLP
Hawkins Parnell & Young is a national defense litigation firm that has represented many of the largest and most well-known companies in high-risk litigation and business disputes. The 250-strong litigation team works with clients to develop winning defense strategies and, if necessary, try cases to verdict in all 50 states. As national leaders in their fields of expertise, their ESOP, Employee Benefits, M&A, Tax & ERISA group brings extraordinary depth in perspective when advising clients in connection with retirement plans, equity incentives, executive compensation, shareholder issues, fiduciaries, mergers and acquisitions, and employment and benefits litigation throughout the country.