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PODCAST · 23 MARCH 2026

Proskauer Benefits Brief: Withdrawal Liability "Cheat Codes": Section 4204 (Part Two) (Podcast)

Proskauer Rose LLP
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In the second part of their discussion, Neil Shah and Rob Projansky take a closer look at what happens...

United StatesEmployment and HR
Neil V. Shah
Neil V. Shah
Robert Projansky
Robert Projansky
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In the second part of their discussion, Neil Shah and Rob Projansky take a closer look at what happens when a Section 4204 transaction doesn't go as planned.

Together, they explore how courts interpret the statute's requirements, the risks that arise when parties miss key steps, and the potential consequences for both buyers and sellers. They also discuss practical strategies for managing these risks, how staged transactions can complicate the analysis, and why parties may choose not to rely on Section 4204 in certain situations.

Neil Shah: Welcome to the Proskauer Benefits Brief, Legal Insight on Compensation and Benefits. I'm Neil Shah, Senior Counsel at Proskauer. Today we're continuing our discussion with Rob Projansky, a partner in Proskauer's Compensation and Benefits Group, about one of the more important cheat codes in the withdrawal liability statute called 4204.

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