Local 50, Bakery Workers Union v. Local 3, Bakery Workers Union

CARDAMONE, Circuit Judge:

The principal issue presented on this appeal is to what extent a union’s health benefits fund must account to a successor union’s fund, and vice versa, for employer contributions and insurance payments previously made on behalf of employees who havé since shifted their union allegiance from one local to another. Nearly a million dollars is at stake in the immediate dispute. Equally important are the far reaching con*231sequences of our decision, for today’s determination necessarily touches on important questions of federal jurisdiction as well as the policies underlying…