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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 KingdomInsolvency/Bankruptcy/Re-Structuring
with readers working within the Accounting & Consultancy industries
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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