News & Analysis as of

Supreme Court Rules Against Super Priority Status of Pension Regulator’s Claims in Insolvency

The Supreme Court has boosted the rescue culture by ruling that Financial Support Directions (FSDs) issued by the UK Pensions Regulator after commencement of insolvency proceedings are not an expense of the administration...more

UK Supreme Court rules on priority ranking of pension liabilities in company insolvencies

On 24th July the UK Supreme Court handed down its unanimous decision in relation to the LBIE/Nortel appeal, overturning the previous Court of Appeal and first instance judgments....more

UK Pensions Alert: UK supreme court decision - where pension liabilities rank on group insolvency

On 24 July the UK's Supreme Court handed down a judgment which clarifies a question about where defined benefit pension liabilities rank on group insolvency. The Court overturned a number of previous decisions made by lower...more

UK Supreme Court Throws out the Nortel and Lehman Pension Baby Claims with the Bathwater

While the arrival of His Royal Highness Prince George Alexander Louis of Cambridge has dominated the British (and the world) headlines this week, the U.K. Supreme Court delivered its own long awaited bundle of joy earlier...more

‘Super Priority’ of Financial Support Directions Overturned in Supreme Court of England and Wales

Summary - Yesterday, the Supreme Court allowed an appeal against the decision of the Court of Appeal (14 October 2011) which, in certain circumstances in an insolvency situation, would have accorded “super priority” to...more

Indalex: What Are the Pension Implications?

On February 1, 2013, the Supreme Court of Canada released its much anticipated decision in Sun Indalex Finance, LLC v. United Steelworkers, a case which pitted the claims of pensioners against those of secured creditors in...more

Indalex: Supreme Court of Canada Decision Released

The Supreme Court of Canada (“SCC”) recently released its much-anticipated decision in the Indalex Limited (“Indalex”) proceedings under the Companies’ Creditors Arrangement Act (the “CCAA Proceedings”). The decision is...more

Obligations To Pensioners In An Insolvency: Supreme Court Clarifies The Law

The Supreme Court of Canada overturned the Ontario Court of Appeal today in what is one of the most highly-anticipated cases for the pension and insolvency bars pending before the courts. In Indalex (Re) 2013 SCC 6, the court...more

Supreme Court of Canada Affirms Federal Paramountcy in Insolvency but Leaves Uncertainty for the Credit Community Regarding...

The Supreme Court of Canada released its highly anticipated decision in Indalex Limited (Re) this morning. The ruling stemmed from an appeal of an Ontario Court of Appeal decision that had created commercial uncertainty...more

Re Northern Sawmills Inc. – Court Considers Post-Indalex Pension Claims in Receivership

This is another post-Indalex pension deficit priority case. Due to factual differences from Indalex, however, the pension claims were largely rejected. In the fall of 2008, Northern Sawmills Inc. idled its operations and laid...more

Case Alert!! Decisions Which Will Affect Financing of Companies with Pension Plans and Potential Environmental Liability Expected...

Supreme Court of Canada is considering two key insolvency related cases where their findings could have significant ramifications on the financing of companies with pension plans and/or potential for environmental liability....more

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