Source: All England Reporter
Publisher Citation: [2012] All ER (D) 19 (Jan)
Neutral Citation: [2011] EWHC 3391 (Ch)
Court: Chancery Division
Judge: Bean J
Representation Andrew Spink QC and Fenner Moeran (instructed by McGrigors LLP) for the claimant.
  Nicolas Stallworthy QC (instructed by Gateley Manchester LLP) for the first defendant.
  James Clifford (instructed by Freedman Law) for the second and third defendants.
Judgment Dates: 15 December 2011

Catchwords

Pension - Pension scheme - Approved occupational pension scheme - Second and third defendant trustees operating pension reciprocation plan - Reciprocal loans being made from scheme Y to scheme Z and from scheme Z to scheme Y - Claimant trustee being appointed by Pensions Regulator - Claimant challenging validity of reciprocal loans - Loans said to be unauthorised member payments - Whether loans valid - , , .

The Case

Pension Pension scheme. The Chancery Division, in allowing the claimants trustee's claim that reciprocal payments made by the original trustees of the occupational pension schemes were unauthorised member payments as defined by s160(2) of the held that the payments fell within the scope of s173 of the Act and were, accordingly, invalid.

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