As a standard rule, an asset purchaser does not suppose the seller’s liabilities, together with its ERISA obligations. Courts, nevertheless, have formulated an exception to this basic rule by using the doctrine of successor liability. Successor legal responsibility is an equitable doctrine requiring a courtroom to “strike a correct balance among on the 1 hand avoiding wrongdoers from escaping liability and on the other hand facilitating the transfer of company property to their most worthwhile works by using.” EEOC v. Vucitech, 842 F.2d 936, 944-45 (7th Cir. 1988).
The doctrine was to start with applied to labor