Renting Co. Space Can Trigger Pension Liability: 7th Circ.

Law360, New York (February 12, 2013, 9:37 PM EST) -- The Seventh Circuit on Friday reversed a trial court's ruling that the owners of a defunct trucking company had no personal liability for the company's withdrawal liability to a pension fund, finding they could be held liable as landlords because they had rented property to the business.

Reversing an Illinois federal court's decision, the appeals court concluded that Stephen and Florence Messina, the former owners of Messina Trucking — which incurred nearly $3.1 million in potential withdrawal liability when it shut down and withdrew from the...
To view the full article, register now.