Ari Alvarez

Ariadna Alvarez advises companies, underwriters and insurers on employee benefits and executive compensation issues that can affect transaction risk and execution. With more than 25 years of experience and involvement in approximately 4,500 representations and warranties insurance (RWI) transactions, Ari helps clients navigate these issues in mergers and acquisitions (M&A) and insurance-backed transactions.

Ari handles the employee benefits and executive compensation aspects of M&A transactions for buyers and sellers. She was part of the deal team that represented MarineMax Inc. (NYSE: HZO) in its acquisition of Island Global Yachting LLC, which received The M&A Advisor's 2023 "Deal of the Year" Award in the $500 million to $1 billion category.

For nearly a decade, Ari has represented underwriters and insurance companies issuing RWI policies, bringing significant insight into the diligence, coverage and risk considerations that can affect complex deals.

Ari also counsels clients on Consolidated Omnibus Budget Reconciliation Act (COBRA) compliance and Affordable Care Act (ACA) Employer Shared Responsibility Payment requirements. She advises on fiduciary duties, tax controversies involving qualified retirement plans and benefit plan compliance before the IRS, U.S. Department of Labor and Puerto Rico Treasury Department. Her work for governmental entities includes human resources and employee benefits matters involving public pension funds and collectively bargained benefits.

Ari's litigation experience encompasses ERISA claims, federal labor and employment disputes and general tax litigation. She has argued before the U.S. Court of Appeals for the First Circuit.

Ari also co-authored amicus briefs on behalf of DRI – "the Voice of the Defense Bar" – in Heimeshoff v. Hartford Life & Accident Insurance Co., et al. before the U.S. Supreme Court and Rochow v. Life Insurance Company of North America before the U.S. Court of Appeals for the Sixth Circuit. In both cases, the briefs supported the prevailing position.

Earlier in her career, Ari served for two years as director of the trust division of an international bank, where she oversaw the administration of $10 billion to $12 billion in assets under management. She earned the Certified Trust and Financial Advisor (CTFA) designation in 2008 and frequently lectures on the ACA, ERISA compliance and litigation, retirement plan design and tax qualification, and Health Insurance Portability and Accountability Act (HIPAA) privacy regulations.

Representative Cases

U.S. District Court

• Defended a global transportation company against claims for benefits under the employer's ERISA-covered group health plan
• Defended a global consulting firm against an ERISA claim for breach of fiduciary duty in connection with services rendered as actuaries for an ERISA pension plan
• Defended a global financial services firm in an ERISA claim for severance benefits and stock option benefits
• Defended a large food and beverage company against an ERISA claim by plan participants seeking long-term disability benefits and alleging breach of fiduciary duty
• Defended a U.S. home products company in a claim for pension benefits and an allegation of breach of fiduciary duty filed against the company, due to a supposed failure to comply with notice requirements under ERISA
• Defended a private oil refinery company in an ERISA claim for pension benefits filed by participants
• Defended a U.S. home products company against a group of plaintiffs claiming that the company breached its fiduciary duties under ERISA and requesting the certification of a class action
• Provided support on defined benefit plan termination valuations to the litigation team defending an insurance company in connection with the termination of its plan, including working with actuaries in the preparation of their expert witness report

U.S. Court of Appeals

• Represented a large food and beverage company in an appeal of the judgment issued by the district court after submission of briefs by both parties
• Represented a large commercial airline in an appeal of ERISA pension benefits
• Drafted the brief on appeal and argued before the U.S. Court of Appeals for the First Circuit on behalf of the defendants/appellants in the case of Israel Sotomayor, et al. v. Geologistics Americas, Inc., et al., 284 F.3d 232 (1st Cir. 2002), where the court of appeals ruled in favor of the defendants/appellants and ordered the district court to enter judgment for the defendants on all claims asserted in the complaint