Finally! First Circuit Overturns the Sun Capital ERISA Multiemployer Plan Liability Case—But Risks Remain for Private Equity

By on December 5, 2019

The First Circuit issued a decision holding that two private equity funds involved in a case are not required to pay for the withdrawal limit of a portfolio company. Despite the limited victory, the guiding rule with respect to defined benefit plan and multiemployer plan pension liabilities remains “buyer beware,” as applicable law continues to provide that such liabilities may become liabilities of private equity funds under certain circumstances.

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