Source: All England Reporter
Publisher Citation: [2013] All ER (D) 178 (Feb)
Neutral Citation: [2012] EWHC 3757 (Ch)
Court: Chancery Division

Judge David Cooke

Representation Keith Rowley QC (instructed by Eversheds LLP) for the claimants.
  Andrew Simmonds QC and Joseph Goldsmith (instructed by Harvey Ingram Shakespeares) for the defendant.
Judgment Dates: 20 December 2012


Pension - Pensions schemes - Winding up - Debt from employer to scheme trustees - Claimants being trustees of two pension schemes (schemes) - Defendant being principal employer under both schemes - Schemes being wound up - Trustees wishing to implement arrangement to increase amount recoverable from employer - Whether rules of schemes permitting trustees to effect buy out in stages, so that they could interpose fixing of applicable time - Whether rules of schemes permitting partial buy out of guaranteed minimum pension (GMP) rights of any member - .

The Case

Pension Pensions schemes. Following the winding up of two pensions schemes and in considering the question of the employer's debt under s75 of the the Chancery Division held that the rules of the schemes, properly construed, permitted the trustees to effect a buy out in stages, so that they could interpose the fixing of the applicable time in the manner described.

Practice Areas

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