Teamsters Pension Fund Revives $41 Million Exit Bill Lawsuit

A Teamsters pension fund revived its withdrawal liability lawsuit against companies connected to a bankrupt dairy operation, when the Third Circuit said Thursday that the fund’s liability assessment was validly revised by a settlement agreement.

The pension fund’s settlement agreement with Borden Dairy Ohio and Borden Transport Ohio qualifies as a “revision” to its demand that the companies pay about $41 million in withdrawal liability, the US Court of Appeals for the Third Circuit said. And because that revised assessment was never challenged in arbitration, the Central States, Southeast & Southwest Areas Pension Fund is allowed to seek payment by ...