Mergers and Wind-Ups
Our barristers are frequently instructed in all matters relating to mergers and wind-ups including the application of assets on a winding-up, the rule of priorities under section 73 of the Pensions Act 1995 and the impact of cross border insolvency on scheme wind-ups. We have extensive experience in dealing with the PPF on winding up.
- Alexander Forbes Trustee Services Ltd v Doe  EWHC 3930 (Ch) – The correct order of priorities under section 73 of the Pensions Act 1995 on the winding-up of a hybrid scheme;
- Cripps v Trustee Solutions Ltd  PLR 237;
- The application of section 73 of the Pensions Act 1995 when members are entitled to different tranches of pension with different normal retirement dates as a consequence of the Barber decision;
- Re T&N Ltd  PLR 1 – An application by the UK administrators of the Federal-Mogul UK administration in respect of the Champion Pension Scheme (successor to the well known Champion Sparking Plug business), one of the two U.K. pension schemes involved in the Federal-Mogul U.K. administration/U.S. Chapter 11 proceedings;
- Harwood-Smart v Caws  PLR 101 – A provision included in a scheme’s 1957 interim deed to comply with the then applicable Inland Revenue regime for approval rendered ultra vires a later amendment permitting the return of surplus to the employer on the winding up of the scheme commencing in 1993.