2nd Circ. Orders Damages Redo In Pension Funding Suit

Law360 (August 20, 2019, 10:23 PM EDT) -- The Second Circuit on Tuesday found a federal district judge incorrectly applied an interest rate when looking at how much a food services business owed a union pension fund in damages for unpaid pension contributions, kicking the case back to the lower court to rethink how much the company needs to pay.

A three-judge panel vacated a lower court's judgment that Nutrition Management Services Co. said forced it to pay 32BJ North Pension Fund at least $200,000 more than what the multiemployer fund was owed. The panel said the lower court wrongly applied an interest rate contained in a so-called "trust agreement"...

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