The Capital Commitment

Proskauer on Private Fund Litigation

Tag Archives: Liability

Ten Tips for Navigating Risks and Liability at Portfolio Companies During COVID-19

By Timothy W. Mungovan, Michael R. Hackett, Jonathan M. Weiss, Alexandra V. Bargoot and Adam L. Deming on Posted in Asset Management, Compliance, Private Equity, Private Equity Litigation, Regulation
Many portfolio companies continue to confront business disruptions as a result of the COVID-19 pandemic. Even prior to the pandemic, we were seeing an uptick in litigation claims against sponsors and funds arising out of portfolio companies. The liquidity challenges since March have increased those risks at some companies. For sponsors, many of these risks … Continue Reading

First Circuit Reverses District Court’s “Partnership-in-Fact” Holding and Finds Private Equity Funds Not Part of Controlled Group and Not Liable for Portfolio Company’s Pension Liabilities

By William D. Dalsen, Jennifer Rigterink, Timothy W. Mungovan, Ira G. Bogner, Ira Golub, Justin Alex, Adam Scoll, Michael R. Hackett and Alexandra V. Bargoot on Posted in Disputes, Private Equity, Private Equity Litigation, Uncategorized
Last Friday, the U.S. Court of Appeals for the First Circuit ruled that two co-investing Sun Capital private equity funds had not created an implied “partnership-in-fact” for purposes of determining whether the Sun Funds were under “common control” with their portfolio company, Scott Brass, Inc. (SBI) – resulting in a ruling that the Sun Funds … Continue Reading
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