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It was agreed there that there was no factual dispute between the parties and it would be appropriate for them to brief the legal issue presented. The second payment, amounting to ,500.00 was to be paid to Claimant before the end of April 2009, which was prior to the bankruptcy filing. The Administrator does not dispute a liability to Claimant pursuant to the terms of the rabbi trust, but contends that Claimant is entitled to the status only of an unsecured creditor for any of the payments due under that agreement. In order to succeed in his assertion that he is entitled to priority status, Claimant must show that he is entitled by the provisions of § 507 to that status.The Administrator filed a memorandum in support of her objection. Claimant had been an employee of Senco Products Inc., but retired March 31, 2008. In the course of his briefing, Claimant makes it clear that it is the second payment of ,500.00 that he believes to be entitled to priority status. Claimant seeks priority status for at least part of his claim. The only provision in § 507 which might here be deemed relevant is § 507(a)(5) which provides: Thus, claims arising under this provision must come "from services rendered within 180 days before the date of the filing of the petition." It is undisputed that Claimant retired from his employment with the Senco Products Inc.The undercover recording can be viewed here: –https://v=_o Ndi4NT4O8Monster Reward SL clients may also be familiar with Mr Taylor, too, as he worked as the office manager and sales person in Monster Rewards York office in the UK, until approximately 12 months ago.We have made further enquiries with the limited information we have about J Flynn’s appointment.
This is very unusual behaviour from an appointed liquidator to announce his appointment by not giving the people he is writing to any information about his practice or a telephone contact number.
His claim will be dealt with as an unsecured claim.
We have recently been made aware of several of our clients, who were members of Monster Rewards, having received a rather concerning letter.
In these jointly administered chapter 11 cases Kenneth E. Beth Savage, CPA, in her capacity as the Post-Consummation Trust Administrator of the SL Liquidating Post-Consummation Trust, (hereafter "Administrator") filed a Sixteenth Omnibus Objection to various claims.
Morrison (hereafter "Claimant") filed three proofs of claim, all for the same amount. Claimant sought priority status for his claim, while the Administrator in her objection opposes such status for Claimant's claim. The tax attributes of a rabbi trust are favorable to the employee because he or she is not subject to tax on the deferred compensation "until he or she actually receives the deferred amount because the employee [may] never receives the money if the company becomes insolvent." , supra, at p. Claimant by the terms of the instrument creating the rabbi trust was to be paid in five equal annual payments starting before the end of April 2008.