June 1, 2018 / 11:47 PM / 10 months ago

Asset purchasers must be alert to pension plan liabilities - 9th Circuit

A company is on the hook for money its predecessor owes a multiemployer pension plan if it’s on constructive notice that it might face such withdrawal liability, a federal appeals court ruled on Friday.

Reversing a lower court, the 9th U.S. Circuit Court of Appeals ruled in favor of an underfunded Hawaii pension plan for unionized hotel workers, which sought payments from a private equity group led by Amstar-39 LLC that bought a hotel on the island of Maui.

To read the full story on Westlaw Practitioner Insights, click here: bit.ly/2J5rNP5

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