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Private Equity › Withdrawal Liability

Fox Rothschild LLP

Private Equity And Withdrawal Liability: Lessons From Sun Capital

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It is not uncommon for private equity funds to reconsider the desirability of a prospect when they learn that the company contributes to an underfunded multiemployer defined benefit pension fund. But because of the hesitation...more

Nelson Mullins Riley & Scarborough LLP

Sun Capital Wins - But All Private Equity Funds May Not

Nelson Mullins Riley & Scarborough LLP on

Just before Thanksgiving, the First Circuit Court of Appeals handed a “win” to Sun Capital’s private equity funds which had been battling against multiemployer pension withdrawal liability since the 2008 bankruptcy of the...more

Faegre Drinker Biddle & Reath LLP

First Circuit Hands Down Significant Private Equity Ruling in Sun Capital Litigation

Faegre Drinker Biddle & Reath LLP on

In an important decision, the U.S. First Circuit Court of Appeals recently ruled that two separate but related private equity funds – Sun Capital Partners III and Sun Capital Partners IV – are not jointly and severally liable...more

Seyfarth Shaw LLP

No Partnership, No Common Control, No Withdrawal Liability: Private Equity Funds Not Liable for Portfolio Company’s Multiemployer...

Seyfarth Shaw LLP on

Seyfarth Synopsis: The First Circuit reversed a district court’s ruling holding two Sun Capital private equity (PE) funds responsible for the withdrawal liability incurred by a bankrupt portfolio company. ...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

Littler

First Circuit Finds Private Equity Partnerships Can be Liable for Employer's Withdrawal Liability

Littler on

On July 24, 2013, the U.S. Court of Appeals for the First Circuit reversed a Massachusetts district court in a widely-watched case addressing whether private equity partnerships are "trades or businesses" for purposes of...more

Proskauer - Employee Benefits & Executive...

District Court Limits the Collection of Withdrawal Liability Against Private Equity Funds

Proskauer - Employee Benefits & Executive... on

In Sun Capital Partners III, LP v. New England Teamsters and Trucking Industry Pension Fund, 2012 WL 5197117 (D. Mass. Oct. 18, 2012), a federal district court in Massachusetts concluded that a private equity fund was not a...more

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