On October 18, 2012, the U.S. District Court for the District of Massachusetts ruled that two private equity investment funds managed by Sun Capital Partners, Inc. were not liable for their bankrupt portfolio company's multiemployer pension plan withdrawal liability (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)).
USA, Massachusetts, Corporate Finance/M&A, Employee Benefits & Pensions, Insolvency & Restructuring, Litigation, Proskauer Rose LLP, Employee Retirement Income Security Act 1974 (USA), Private equity, Joint and several liability, Sun Capital Partners, Pension Benefit Guaranty Corporation