UK:
Law Reversed On Pensions Liabilities In Insolvency
23 October 2013
Fieldfisher
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On 19 October 2011, we issued an update detailing the Court of
Appeal decision that pension schemes will, in some cases, have to
be paid before floating chargeholders, preferential creditors,
unsecured creditors and even the administrators themselves, where
companies become insolvent. The Supreme Court
has reversed that decision in the same pair of cases arising
out of the Lehman and Nortel insolvencies.
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