||All England Reporter
|| All ER (D) 96 (Dec)
|| EWCA Civ 1542
||Court of Appeal, Civil Division
Lord Justice Pill, Lady Justice Arden and Sir Mark Potter
||Michael Furness QC (instructed by Pitmans LLP) for the claimant.
||Paul Newman QC (instructed by Linklaters LLP) for the defendant.
||13 December 2011
Deed - Construction - Trust deed - Claimant employer bringing negligence action against defendant consultant regarding amendments to wording of employer's pension scheme - Construction of scheme to be determined as preliminary issue - Correct construction of scheme - Judge finding definition of 'earnings' including 'fluctuating emoluments' - Judge ordering defendant recovering difference between costs on standard and indemnity bases from scheme assets on basis applicable to litigation between trustee and beneficiary - Claimant appealing - Whether judge erring.
Deed Construction. The Court of Appeal, Civil Division, in dismissing the claimant company's appeal against the judge's ruling on a preliminary issue relating to the meaning of the word 'earnings' in a trust instrument governing its employees' pension scheme, held that the judge had been correct in his construction of the instrument, but had erred in ordering that the defendant actuarial pensions administrator should recover the difference between its costs on the standard and indemnity bases from the pension scheme assets on the basis applicable to litigation between trustee and beneficiary.
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