The very long arm of the PBGC: foreign company held liable to PBGC for US sub's pension underfunding in PBGC v. ASAHI Tec Corp.

Typically, personal jurisdiction requirements barred the PBGC from bringing suit against the foreign entity in the United States, as described later. Further, attempts to collect against foreign controlled group members [...]
Although surprising to many companies, federal law has long put all entities in a controlled group on the hook for the unfunded pension liabilities of any member. Even more surprising, this liability extends beyond the US border to foreign controlled group members. Until the recent district court decision in PBGC v. Asahi Tec Corp., (1) however, the Pension Benefits Guaranty Corporation (PBGC) has had limited ability to recover pension liabilities from foreign controlled group members. This ruling appears to open the door for the PBGC to assert controlled group liability on foreign entities with limited connections to the United States, seemingly based only on being a member of a controlled group.