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Proskauer Rose LLP | USA | 3 Dec 2012

Investment funds not liable for portfolio company's underfunded pension liability under federal court ruling

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)).


Proskauer Rose LLP | USA | 20 Jun 2012

Investment advisers to ERISA plans and plan asset funds will be subject to new disclosure obligations effective July 1, 2012

The U.S. Department of Labor's ("DOL") final regulations (the "Final Regulations") under Section 408(b)(2) of ERISA (the "necessary services exemption") will go into effect on July 1, 2012.

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