Inside M&A - March/April 2011

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In This Publication:

Successor Liability in an Asset Sale: Court Holds Purchaser Liable for Seller’s Delinquent Contributions to a Multiemployer Plan; Increased Occurrence of Split-up of Pension Plans in the M&A Context; Be Aware of the EU Watch Dog: Commission Blocks Merger Between Aegean Airlines and Olympic Air; New Perspectives and Opportunities for Turnaround Investors in Germany; And, IRS Provides Safe Harbor for Allocating Success-Based Fees.

Successor Liability in an Asset Sale: Court Holds Purchaser Liable for Seller’s Delinquent Contributions to a Multiemployer Plan by Jonathan J. Boyles

A federal appellate court recently held that a purchaser in an asset sale was liable for a seller’s unpaid contributions to a multiemployer plan. In Einhorn v. M.L. Robertson Construction Company, a panel of the U.S. Court of Appeals for the Third Circuit held that liability attached if the purchaser was aware of the liability and there was a sufficient continuity of operations and workforce....

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