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Pension challenges in bankruptcy and restructuring processes

This is an extract from Financier Worldwide's August online publication entitled "Pension challenges in bankruptcy and restructuring processes."

REFLECTING ON THE LAST FEW YEARS, HOW WOULD YOU DESCRIBE OVERALL PENSION CHALLENGES ARISING FOR COMPANIES FACING BANKRUPTCY / INSOLVENCY AND RESTRUCTURING PROCESS? WHAT MAJOR TRENDS HAVE DEFINED THIS SPACE?

United Kingdom, Employee Benefits & Pensions, Insolvency & Restructuring, Macfarlanes LLP, Defined benefit pension plan, The Pensions Regulator (UK), Pension Protection Fund
First Circuit: private equity fund may be trade or business and subject to portfolio company pension liabilities

The First Circuit Court of Appeals has recently held in Sun Capital Partners III, LP v. New England Teamsters & Trucking Industry Pension Fund, No. 12-2312 (July 24, 2013), a case of first impression at the Circuit Court level, that a private equity fund that exercises sufficient control over a portfolio company may be considered a “trade or business” for purposes of Title IV of the Employee Retirement Income Security Act of 1974 (ERISA).

USA, Employee Benefits & Pensions, Insolvency & Restructuring, Litigation, White & Case, Employee Retirement Income Security Act 1974 (USA), Joint and several liability, Defined benefit pension plan, Sun Capital Partners, Pension Benefit Guaranty Corporation