- Category
- Client Alerts
- Date
- Oct. 24, 2013
- Title
-
Financial Institutions Alert: First Circuit Opens Door to Holding Equity Fund Responsible for Multiemployer Pension Plan Liability of Portfolio Company in Sun Capital Partners III, LP v. New England Teamsters and Trucking Industry Pension Fund
At issue was the joint investment (with a 70%-30% split) of two private equity funds in a company that contributed to a multiemployer pension plan ("MEP") for its union employees. When the portfolio company went bankrupt a few years later, the MEP assessed withdrawal liability against the funds on the basis of the joint and several liability of controlled group members for MEP withdrawals under the Employee Retirement Income Security Act of 1974, as amended ("ERISA").
Related People
-
-
Barry Herzog
-
- Partner
- Co-author
- New York
- vcard
-
-
-
Howard T. Spilko
-
- Partner
- Co-author
- New York
- vcard
-
-
-
Adam C. Rogoff
-
- Partner
- Co-author
- New York
- vcard
-
