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Mintz

Mass. District Court Holds Private Equity Funds Liable for a Portfolio Entity’s Pension Benefits

Mintz on

The Private Equity Practice has been getting an increasing number of calls related to the decision made earlier this spring (Sun Capital Partners III, LP v. New Eng. Teamsters & Trucking Indus. Pension Fund, 2016 US Dist....more

Morgan Lewis

Private Equity Fund May Be “Trade or Business” Under ERISA

Morgan Lewis on

First Circuit holds that an investment fund may be responsible for controlled group pension liabilities of portfolio companies. On July 24, the U.S. Court of Appeals for the First Circuit issued a significant decision...more

Eversheds Sutherland (US) LLP

Legal Alert: Not Exactly a Day in the Sun: U.S. Court of Appeals Holds Private Equity Fund Is Engaged in a Trade or Business

In Sun Capital Partners III LP v. New England Teamsters & Trucking Industry Pension Fund, No. 12-2312, 2013 WL 3814984 (1st Cir. July 24, 2013), the U.S. Court of Appeals for the First Circuit effectively found that the...more

Proskauer Rose LLP

Private Investment Funds May Be Liable for Portfolio Company's Underfunded Pension Liabilities under First Circuit Ruling

Proskauer Rose LLP on

On July 24, 2013, the U.S. Court of Appeals for the First Circuit held that a private equity investment fund was engaged in a "trade or business" under the Employee Retirement Income Security Act of 1974, as amended (ERISA)...more

King & Spalding

District Court Declines to Hold Private Equity Funds Liable for Portfolio Company Withdrawal Liability

King & Spalding on

In Sun Capital Partners III, LP v. New England Teamsters and Trucking Industry Pension Fund, a U.S. district court in Massachusetts held that investment funds managed by private equity firm Sun Capital Advisors, Inc. (“Sun...more

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