In Re Alan David Lichstrahl, Debtor. Alan David Lichstrahl v. Bankers Trust

GODBOLD, Chief Judge:

FACTS

Appellant is a licensed orthopedic surgeon. Since 1979 he has practiced medicine in Florida as an employee of a professional association (hereafter P.A.), of which he is the sole director, officer, and stockholder. The P.A. has employed no one in addition to appellant for most of the time that it has been incorporated.

In 1979 the P.A. created two pension plans pursuant to 29 U.S.C. §§ 1001, et seq. (1982) (ERISA) and 26 U.S.C. §§ 401, et seq. (1982), both established as trusts naming the P.A. as settlor, appellant as trustee, and P.A. employees as beneficiaries.…