"This case seems on course to give us some rules about when a transaction's principal purpose is to evade liability. We have already had some guidance in another circuit on how that phrase is applied in the multi-employer plan context, as the Sun Capital Partners court found that simply taking less than an 80% ownership interest wasn't an attempt to evade liability. However, this case involves an interest that was originally higher than 80% and was reduced. Further, this court seems to be willing to entertain the idea that a transaction can have more than one principal purpose." [PBGC v. The Renco Group, No. 13-cv-621 (S.D.N.Y. Mar. 5, 2015)]  MORE >>