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NOWOTNY KNOWS SQUAT! Part IV Using Post-Retirement Medical Plans to Raise AUM and Sell Life Insurance
NOWOTNY ON DEATH AND TAXES EPISODE 35 USING POST-RETIREMENT MEDICAL PLANS TO RAISE AUM
NOWOTNY KNOWS SQUAT! Part 3 Using Malta Pension Plans to Raise AUM and Sell More Life Insurance
KNOCK YOURSELF OUT - RESUSCITATING TAXPAYERS WITH BUYER'S REMORSE!
INTRODUCING MALTA SPLIT DOLLAR
WHERE EAGLES DARE-INTRODUCING MALTA SPLIT DOLLAR
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The Multiemployer Pension Plan Amendments Act of 1980 ("MPPAA") amended the Employee Retirement Income Security Act of 1974 ("ERISA") and the Internal Revenue Code to make "trade[s] or business[es]" that are under "common...more
New York partner Bradd Williamson, Global Chair of Latham’s Benefits, Compensation & Employment Practice, and Chicago partner Robin Struve discuss Sun Capital Partners III, LP v. New England Teamsters & Trucking Industry...more
Key Points - The US Court of Appeals for the First Circuit reversed a lower court decision which held that two affiliated private equity funds with indirect ownership interests in the same portfolio company were liable for...more
On November 22, 2019, the United States Court of Appeals for the First Circuit held that two separate private equity funds managed by the same general partner/management firm were not liable for the pension fund withdrawal...more
The recent decision by the U.S. Court of Appeals for the First Circuit in the Sun Capital Partners case may allay some of the concerns that private-equity and other investment funds that acquire or invest in portfolio...more
On November 22, 2019, the U.S. Court of Appeals for the First Circuit in Sun Capital Partners III, LP v. New England Teamsters and Trucking Industry Pension Fund (1st Cir., No. 16-1376, Nov. 22, 2019) (“Sun Capital IV”)...more
In a decision published on November 22, 2019, the First Circuit reversed a district court’s prior decision and held two Sun Capital private equity funds were not liable for the withdrawal liability incurred when a...more
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...more
Last Friday, the U.S. Court of Appeals for the First Circuit ruled that two co-investing Sun Capital private equity funds (the Sun Funds) had not created an implied “partnership-in-fact” for purposes of determining whether...more
Seyfarth Synopsis: The First Circuit reversed a district court’s ruling holding two Sun Capital private equity (PE) funds responsible for the withdrawal liability incurred by a bankrupt portfolio company. ...more
In light of the recent decisions by the U.S. Court of Appeals for the First Circuit and the U.S. District Court for the District of Massachusetts in Sun Capital, private investment funds, multiemployer pension funds and the...more
The Private Equity Practice has been getting an increasing number of calls related to the decision made earlier this spring (Sun Capital Partners III, LP v. New Eng. Teamsters & Trucking Indus. Pension Fund, 2016 US Dist....more
The recent opinion by the U.S. District Court for the District of Massachusetts on remand from the U.S. Court of Appeals for the First Circuit in the Sun Capital Partners case may be troubling to private equity funds and...more
Private Equity Funds Found Liable for Portfolio Company’s ERISA Withdrawal Liability - The most recent ruling in the ongoing Sun Capital Partners III, LP v. New England Teamsters and Trucking Industry Pension Fund case...more
A group of related private equity (“PE”) funds were found liable for a bankrupt portfolio company’s pension plan debts in the latest and most worrisome decision in the long-running Sun Capital Partners III, LP v. New England...more
Previously, we wrote about the First Circuit decision that a private equity fund constituted a “trade or business” under ERISA as amended by the Multeimployer Pension Plan Amendments Act (“MPPAA”). That dry description is...more
On March 28, 2016, the U.S. District Court for the District of Massachusetts held that two private equity funds within Sun Capital were jointly and severally liable under the Employee Retirement Income Security Act of 1974,...more
As we previously reported, two private equity funds (the Sun Funds) managed by Sun Capital Advisors, Inc. (SCAI) have for years battled with the New England Teamsters & Trucking Industry Pension Fund (TPF) over whether the...more
The latest decision in the series of Sun Capital cases was released on March 28, 2016, by the U.S. District Court for the District of Massachusetts. In Sun Capital Partners III, LP v. New England Teamsters & Trucking Indus....more
On March 28, the US District Court for the District of Massachusetts held that, under the Employee Retirement Income Security Act of 1974 (ERISA), two private equity funds (1) were engaged in a trade or business, and (2) had...more
On March 28, 2016, a district court in Massachusetts found two private equity funds (under the Sun Capital Partners, Inc. umbrella) jointly and severally liable for withdrawal liability imposed on one of its underlying...more
A U.S. District Court issued a ruling on March 28 that affects pension liabilities for private equity funds and their portfolio companies. Taken further, the ruling potentially changes fundamental rules for tax-qualified...more
In a decision that will have significant repercussions for private equity sponsors and their portfolio companies, the United States District Court for the District of Massachusetts has found a private equity sponsor liable...more
District Court finds affiliated funds acted in de facto partnership which controlled portfolio company; Decision may be significant in making private equity acquisition structuring choices. As we previously reported, in...more
In a significant decision for both private equity funds and multiemployer pension plans, the U.S. District Court for the District of Massachusetts held last week in Sun Capital Partners III, L.P. v. New England Teamsters &...more