Nortel ruling will harm all creditors

Jenna Towler
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The Court of Appeal ruling in the Nortel/Lehman case means ordinary workers could see redundancy and notice pay extinguished by a pension scheme ‘super creditor', a lawyer says.

The judgment - released on Friday - followed the High Court's position that a financial support direction or contribution notice issued by The Pensions Regulator is an expense of the administration...

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