It's not every day that there's a real case involving <shudder> plan assets in the courts. But the Powell v. Ocwen case, now on appeal in the Second Circuit, is such a case. (Thanks to my friend Kellie for reminding me about this little jurisprudential gem.) Even if the highly technical but very dangerous ERISA claim ultimately fails, the case is a powerful rejoinder to the person who asks the ERISA lawyer, "Hey, does anyone ever really get called over the issues you're raising?"
So how does this case bring me back to my pre-ERISA days as young child (yes, there were pre-ERISA days), when I was a big fan of black-and-white horror comics (like Tales from the Crypt). One story in particular really stayed with me. There was a doctor in the story living his life amidst mayhem happening all around him. At the very end, it was revealed that he was indeed Satan. Of course he was. He was Dr. Natas. And "Natas" spelled backwards is "Satan". Ooooooooooooooh. (I won't even try to list all the other characters in the world who someone has so cleverly named "Natas".)
So imagine the hilarity that befell me when I realized that some clever and maybe smirking soul, in tagging a moniker on a newly created entity inhabiting a box in some presumably Byzantine structure chart, decided to use "Ocwen", which, of course, is "Newco" spelled backwards. Ooooooooooooooh.
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