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EBSA Notices

Withdrawal of Proposed Exemption From Certain Prohibited Transaction Restrictions   [9/26/2011]
[PDF]
Federal Register, Volume 76 Issue 186 (Monday, September 26, 2011)
[Federal Register Volume 76, Number 186 (Monday, September 26, 2011)]
[Notices]
[Pages 59445-59446]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-24530]


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DEPARTMENT OF LABOR

Employee Benefits Security Administration


Withdrawal of Proposed Exemption From Certain Prohibited 
Transaction Restrictions

    In the Federal Register dated May 5, 2011 (76 FR 25719), the 
Department of Labor (the Department) published a notice of proposed 
exemption from the prohibited transaction restrictions of the Employee 
Retirement Income Security Act of 1974 and from certain taxes imposed 
by the Internal Revenue Code of 1986. The notice concerned an 
application, D-11639, filed on behalf of Wolverine Bronze Company 
Profit Sharing Plan and Trust (the Plan) and BDR Oil, LLC located in 
Roseville, Michigan, involving the proposed sale, for cash at fair 
market value, of a note receivable and royalty interests

[[Page 59446]]

(ORRIs)--collectively, the Alternative Investments, by the Plan to BDR 
Oil, LLC, an entity owned by three officers/employees of the Plan.
    On May 19, 2011, the Department was informed by a representative of 
the Applicant that BDR Oil, LLC no longer intended to purchase the 
Alternative Investments from the Plan. Accordingly, on its own motion, 
the Department hereby withdraws the foregoing notice of proposed 
exemption.

    Signed at Washington, DC, this 19th day of August, 2011.
Ivan L. Strasfeld,
Director, Office of Exemption Determinations, Employee Benefits 
Security Administration, U.S. Department of Labor.
[FR Doc. 2011-24530 Filed 9-23-11; 8:45 am]
BILLING CODE 4510-29-P