Perspective
Aug. 8, 2013
Private equity fund accountable for a separate portfolio's withdrawal?
On July 24, the 1st Circuit decided a case of first impression regarding whether a private equity fund could be liable to a multiemployer pension fund for the withdrawal liability of a bankrupt portfolio company. By Michael L. Ludwig
Could a solvent portfolio company of a private equity fund as well as the private equity fund be responsible for the withdrawal liability of a wholly separate bankrupt portfolio company? A recent ruling from the 1st U.S. Circuit Court of Appeals that a private equity fund may be part of a controlled group with a withdrawing employer could give rise to this unexpected result because other portfolio companies also could then be part of that con...
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