what do you mean by sun capital
Answers
On March 28, 2016, the federal district court in Massachusetts (the “District Court”), issued a decision (2016
U.S. Dist. LEXIS 40254) in Sun Capital Partners III, LP v. New England Teamsters & Trucking Industry
Pension Fund, 2013 U.S. App. LEXIS 15190 (1st Cir. 2013) (“Sun Capital”), holding that, for purposes of
pension withdrawal liability under Title IV of the Employee Retirement Income Security Act of 1974 (ERISA),
as amended by the Multiemployer Pension Plan Amendment Act of 1980 (MPPAA), two private equity funds
were engaged in a trade or business and that they were under “common control” with the portfolio company
such that they were jointly and severally liable for its pension withdrawal liability. While Sun Capital is not a
tax case, some commentators have suggested that the principles of the case, if extended to the tax arena,
could have broad implications for the tax treatment of the income and activities of PE Funds and their
investors.
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