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CHAIT v. BERNSTEIN

No. 86-5733.

835 F.2d 1017 (1987)

Arnold CHAIT, Trustee of Ambassador Insurance Company, Inc. Employees Pension Plan, Appellant, v. George K. BERNSTEIN, Appellee.

United States Court of Appeals, Third Circuit.

Decided December 18, 1987.

As Amended January 28, 1988.

Attorney(s) appearing for the Case

Reid L. Ashinoff (argued), James S. Kaplan, Michael H. Barr, Ashinoff, Ross & Goldman, New York City, for appellant.

Richard B. Whitney (argued), Susan Z. Haller, Jones, Day, Reavis & Pogue, Cleveland, Ohio, Rosalie Burrows, Eugene M. Haring, McCarter & English, Newark, N.J., for appellee.

Before SLOVITER, BECKER and GARTH, Circuit Judges.

OPINION OF THE COURT

BECKER, Circuit Judge.

This ERISA appeal arises from a dispute between the principal of a hopelessly insolvent property and casualty insurance company and the receiver of that company appointed upon petition of the State Insurance Commissioner. Each party claims the surplus assets of the company's defined benefit pension plan ("the Plan") that remain after payment of vested benefits. After the company sponsoring the Plan entered Chapter...

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