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Private Equity Seeks Second Chance on ERISA Liability Ruling
Kaufman & Canoles, P.C. 
May 31, 2018
"Trilantic sued in federal court asking for a ruling that it wasn't an employer in the same controlled group as Angelica Corporation. It claimed the fund was merely a passive investor that acted consistently with that role as a shareholder ... The Trilantic case is pending in a different jurisdiction than the Sun Capital case ... The ultimate issue then comes down to a matter of degree how much control, involvement, or economic benefit does it take to become a trade or business as opposed to a passive investor."
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