Healy v. Rich Products Corp., 981 F. 2d 68 - Court of Appeals, 2nd Circuit 1992

Plaintiff-appellant Thomas B. Healy, Jr. appeals from a judgment entered on March 5, 1992 in the United States District Court for the Western District of New York (Elfvin, J.) rejecting on summary judgment motion plaintiff\u27s claim that certain pension plan benefits were preserved by the terms of an exception to a general release executed in connection with a stock purchase agreement, and rejecting after trial plaintiff\u27s claim to reform the release exception for mutual mistake and fraud. In an order entered on April 1, 1991, 1991 WL 46514, Judge Elfvin partially granted defendant\u27s cross-motion for summary judgment, ruling, as a matter of law, that the meaning of the exception language found in the general release clause of the stock purchase agreement (the Purchase Agreement ) entered into between Healy and defendant Rich Products Corp. ( Rich Products ) was governed by the Employee Retirement Income Security Act of 1974, 29 U.S.C. § 1001 et seq. (1988), ( ERISA ), and that the language did not preserve Healy\u27s right to receive certain pension plan benefits. Judge Elfvin denied both parties\u27 cross-motions for summary judgment on the issue of reformation of the release exception and scheduled a bench trial. After the bench trial, on March 5, 1992, 1992 WL 50924, Judge Elfvin rejected the reformation claim and directed the entry of judgment dismissing Healy\u27s complaint