News & Analysis as of

Pensions Insolvency United Kingdom

Latham & Watkins LLP

Directors Duties and Misfeasance Trading Lessons From BHS

Latham & Watkins LLP on

Actions brought against the BHS directors by the group’s liquidators have resulted in the largest reported award for wrongful trading since the provision’s introduction, but the judgment highlights some unsettled areas of the...more

Goodwin

Pension Schemes Act 2021: The Impact of New Criminal Liability on Restructuring and Corporate Transactions

Goodwin on

THE PENSION SCHEMES ACT 2021 - The Pension Schemes Bill 2019-20 (“the Bill”) was first published on 16 October 2019. Following the dissolution of the 2017-2019 Parliament at the end of the 2019 session, the Bill was...more

McDermott Will & Emery

Preparing for Tax Rises on the Horizon – Who Will Pay for the UK Government’s COVID-19 Relief Measures?

McDermott Will & Emery on

It is no secret that the Coronavirus (COVID-19) pandemic is having a significant impact on the economy. Chancellor Rishi Sunak recently stated that “it is now very likely that the UK is facing a significant recession at the...more

Hogan Lovells

Rocking the boat – Pension Schemes Bill proposals may risk destabilising future restructurings

Hogan Lovells on

The Pension Schemes Bill [HL] 2019-20 (Bill) was re-introduced before Parliament on 7 January 2020. Among its proposed amendments to the Pensions Act 2004 (Act) are new criminal  offences for failing to comply with a...more

Latham & Watkins LLP

Addressing Pensions Liabilities for Underperforming Portfolio Companies

Latham & Watkins LLP on

This year has seen a significant number of business failures, particularly on the high street, as businesses have struggled in the face of market fragility and Brexit uncertainty. When a UK portfolio company is...more

Latham & Watkins LLP

Addressing Pensions Liabilities for Underperforming Companies

Latham & Watkins LLP on

This year has seen a significant number of business failures, particularly on the high street, as businesses have struggled in the face of market fragility and Brexit uncertainty. When a UK company is underperforming, the...more

Orrick, Herrington & Sutcliffe LLP

Lehman Brothers Pension Scheme - The treatment of pensions claims in a UK insolvency process

When the Lehman Brothers group imploded in September 2008, the impact of events on the Lehman Brothers UK pension scheme (the "Scheme") was not seen as a key concern for anyone other than the members themselves. Yet as time...more

Proskauer Rose LLP

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

Proskauer Rose LLP on

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

Bracewell LLP

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

Bracewell LLP on

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

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