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Private Equity Funds Pension Benefit Guaranty Corporation Investment Portfolios

Jones Day

Private Equity Update: 1st Circuit Reverses Imposition of Pension Plan Withdrawal Liability

Jones Day on

The Multiemployer Pension Plan Amendments Act of 1980 ("MPPAA") amended the Employee Retirement Income Security Act of 1974 ("ERISA") and the Internal Revenue Code to make "trade[s] or business[es]" that are under "common...more

A&O Shearman

First Circuit Finds That Funds Were Not Liable for Portfolio Company’s Pension Fund Withdrawal Liability

A&O Shearman on

On November 22, 2019, the United States Court of Appeals for the First Circuit held that two separate private equity funds managed by the same general partner/management firm were not liable for the pension fund withdrawal...more

Proskauer Rose LLP

Sun Capital Redux: Private Equity Fund Seeks Declaratory Judgment on Controlled Group Liability for Portfolio Company's Pension...

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In light of the recent decisions by the U.S. Court of Appeals for the First Circuit and the U.S. District Court for the District of Massachusetts in Sun Capital, private investment funds, multiemployer pension funds and the...more

Proskauer Rose LLP

Sun Capital Court Finds Co-Investing Funds Part of Controlled Group and Liable for Portfolio Company’s Pension Liabilities

Proskauer Rose LLP on

District Court finds affiliated funds acted in de facto partnership which controlled portfolio company; Decision may be significant in making private equity acquisition structuring choices. As we previously reported, in...more

Latham & Watkins LLP

Sun Capital: Private Equity Funds Liable for Portfolio Company’s Withdrawal Liability

Latham & Watkins LLP on

District Court finds affiliated funds acted in de facto partnership which controlled portfolio company; Decision may be significant in making private equity acquisition structuring choices. On March 28, 2016, a Federal...more

Dechert LLP

Is the First Circuit Egregiously Aggregating? Sun Capital Partners Case Holds That a Private Equity Fund Could Have ERISA...

Dechert LLP on

The recent decision by the U.S. Court of Appeals for the First Circuit in the Sun Capital Partners case may be of concern to private equity funds and other investment funds that acquire or invest in portfolio companies with...more

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