Tag Archives: benefits due exclusion

First Circuit: Private Equity Fund Liable for Bankrupt Portfolio Company’s Pension Obligations

On July 24, 2013, in a case the court said was one of “first impression,” the First Circuit held that, due to the nature of its involvement in the management of its portfolio company’s operations, a private equity firm was potentially liable for the portfolio company’s pension obligations. The decision has significant implications for the … Continue Reading

Fiduciary Liability: Seventh Circuit Upholds Arthur Anderson’s Insurer’s Coverage Denial

In an April 9, 2008 opinion (here) written by Chief Judge Frank Easterbrook, the Seventh Circuit held that there was no coverage under Arthur Anderson’s fiduciary liability policy for the firm’s settlement of a retiree pension benefits dispute. The dispute arose after the firm’s Enron-related difficulties undercut the firm’s ability to honor retirees’ demands for … Continue Reading