TPR wins Nortel Lehman Bros court battle
UK/US/CANADA - A financial support direction issued by The Pensions Regulator against insolvent companies is an expense of the administration and must be complied with, the High Court has ruled.
As a result the trustees of the Nortel Networks and Lehman Brothers pension schemes have been given ‘super priority' in obligations arising from FSDs issued against their parent companies by the regulator....
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