Pension scheme liabilities ‘super-priority’ in court - AAD Consumer Forum

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5corpio started a blog post Pension scheme liabilities ‘super-priority’ in court
29 July 2011, 16:35

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Pension scheme liabilities ‘super-priority’ in court

Pension scheme liabilities ‘super-priority’ in court

Originally posted by 5corpio

Pension scheme liabilities ‘super-priority’ in court

The Court of Appeal today heard the final day of argument in the case between the administrators of Nortel and Lehmans and the Pensions Regulator that could decide whether pension scheme members should be given priority over all other creditors in the insolvency of companies.

In December 2010 a ruling said that pension scheme members should be paid before everyone else but the administrators of Nortel Networks and Lehman Brothers have challenged that in a test case that has been heard this week.

Nick Moser, head of restructuring and corporate recovery at law firm Taylor Wessing said the case had significance for the

Read more on this story: Credit Today online
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