Jay Van Heyde contributed an article for the April “Legal Update” in the ESOP Association newsletter. He wrote about The Evolving Landscape of Trustee Indemnification by ESOP Companies — Harris v. Greatbanc Trust Company. The article examines an ESOP company’s ability to indemnify an ESOP trustee against losses and expenses, such as attorneys’ fees during the period of litigation. Based on the case, the article also shares a guideline for trustees and ESOP companies composing indemnification provisions.
ESOP Report - Legal Update