First Circuit Holds Sun Capital Funds Not Liable for Portfolio Company Withdrawal Liability
Stroock partners, Austin S. Lilling, André B. Nance, David C. Olstein,Eric Requenez, special counsel Abbey L. Keppler, and Brian A. Friederich were published in the February/March 2020 issue of Pratt’s Journal of Bankruptcy Law.
The publication discusses how the U.S. Court of Appeals for the First Circuit reversed a lower court decision and held that three private equity funds sponsored by Sun Capital Advisors, Inc. were not liable for the multiemployer pension plan withdrawal liability of a bankrupt portfolio company co-owned by the Sun Capital funds. The article details the decision, noting it was undoubtedly a victory for the Sun Capital funds but that it still leaves many areas of uncertainty.
Read the full article below.