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23 October 2013

Law Reversed On Pensions Liabilities In Insolvency

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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.
United Kingdom Insolvency/Bankruptcy/Re-Structuring
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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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