Granada and Thorn sold their respective TV rental businesses for too high a price, meaning the eventual Box Clever venture was too highly leveraged, the Upper Tribunal has been told.
The 50:50 joint venture TV rental business - formed in 2000 - was financed by a BBB-rated £860m loan provided by West LB, with almost all of this paid to Granada and Thorn so Box Clever could take over...
The Pension Regulator’s (TPR) strengthened powers under the Pension Schemes Bill could lead to a revival of its clearance process, according to advisers and lawyers.
The long-debated Pension Schemes Bill has received parliamentary approval, guaranteeing its place on the statute book.
Some £20.1bn of defined benefit (DB) pensions were advised to transfer between 2018 and 2020, while £10.2bn were recommended not to transfer, Financial Conduct Authority (FCA) data reveals.
Pension trustees will have much more involvement in business discussions and corporates will need to think more about pensions when the watchdog’s increased powers come into force, LCP says.
Mediation has been under-utilised historically as a means of dispute resolution in this area. Mark Blyth and Geoff Egerton think this is going to change.