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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Published In: Finance & Banking Updates, International Trade Updates, Labor & Employment Updates, Mergers & Acquisitions Updates, Tax Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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