4th Circuit Vacates Arbitral Award For Penske In Withdrawal Liability Case

(January 16, 2018, 2:39 PM EST) -- RICHMOND, Va. — After determining that an arbitrator applied the wrong burden in determining whether a principle purpose of a company’s sale of stock was to avoid the withdrawal liability, the Fourth Circuit U.S. Court of Appeals on Jan. 10 vacated a court’s order to enforce the award (Penske Logistics LLC, et al. v. Freight Drivers and Helpers Local Union No. 557 Pension Fund, et al., No. 16-2115, 4th Cir.)....

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