The First Circuit, however, disagreed with the lower court. Analyzing the multi-factor test for establishing partnership status under federal tax court precedent and noting the lack of other formal guidance from regulators or...more
11/26/2019
/ Appeals ,
Binding Precedent ,
Employee Retirement Income Security Act (ERISA) ,
Investment Funds ,
Joint and Several Liability ,
Multiemployer Plan ,
Partnership-in-Fact ,
Partnerships ,
Portfolio Companies ,
Private Equity Funds ,
Reversal ,
Sun Capital Partners ,
Tax Court ,
Withdrawal Liability
Private equity funds (PE funds) and their advisors long have been concerned that a fund (or its other portfolio companies) may be liable for unfunded pension plan liabilities of one of its portfolio companies. However, in a...more