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Massachusetts District Court Finds Investment Funds Not Liable for Portfolio Company's Underfunded Pension Liability
Proskauer Rose LLP 
Dec. 3, 2012 "This ruling comes as welcome news to private equity funds that (either together or through related funds) own 80% or more of a portfolio company with underfunded pension liabilities or withdrawal liability, and is a matter of concern for the Pension Benefit Guaranty Corporation ... and multiemployer pension plans seeking to assert liability on these funds." [Sun Capital Partners III, LP v. New England Teamsters and Trucking Industry Pension Fund, Civ. Action No. 10-10921-DPW (D. Mass. Oct. 18, 2012)] MORE >> |
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