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Third Circuit Says That Asset Purchaser May Have Successor Liability for Seller’s Delinquent Contributions to Multi-Employer Plans
February 4, 2011
In a recent decision, Einhorn v. M.L. Ruberton Construction Co., the Third Circuit Court of Appeals held that an asset purchaser could be liable for a seller's delinquent multi-employer plan contributions. Adopting the Seventh Circuit's approach, the Third Circuit Court of Appeals departed from the traditional common law rule of successor liability and held that, under some circumstances and particularly in the ERISA context, a purchaser could be liable for the seller's delinquent ERISA fund contributions as a successor in interest to the seller of those assets.