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When 'If and When' Becomes 'Here and Now'

BY Mary Cushing Doherty
March 29, 2010

In these troubled economic times, many companies are dissolving or merging to survive. Mergers can present some difficult issues to matrimonial attorneys. A discussion of one such merger, pharmaceutical company Wyeth, will illustrate some of the problems and their resolutions. In addition, several sample forms follow this article.

The Wyeth Merger

On Oct. 15, 2009, Wyeth merged into Pfizer, another pharmaceutical manufacturer. Understanding the various deferred compensation plans at Wyeth before October 2009, was an education in itself. The acquisition of Wyeth by Pfizer shifted the treatment of certain deferred assets to accelerate the liquidity of assets in some cases, but not in others. Depending upon the type of plan and the decisions made during the merger, some equitable distribution problems were solved and other problems were created regarding equitable distribution of deferred assets. Deconstructing each category of assets and the impact of the merger illustrates how novel assets require foresight ' and a crystal ball ' to protect the non-employee spouse.

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