Supreme Court quashes Nortel/Lehman FSD rulings

clock

The Supreme Court has overturned a ruling that financial support directions (FSD) issued by The Pensions Regulator (TPR) in insolvencies should be treated as an expense of the administration.

In a judgment in the Nortel/Lehman case, handed down this morning, the court found that FSDs were in fact provable debts which would rank alongside the claims of other unsecured creditors. The c...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Are you a trustee, investment consultant or in-house pension and benefit scheme professional? You can apply for full complimentary access here

Join now

 

Already a Professional Pensions
member?

Login

More on Law and Regulation

Government moves forward with IHT/pension plans from April 2027

Government moves forward with IHT/pension plans from April 2027

Move expected to raise £1.5bn annually

Sahar Nazir
clock 22 July 2025 • 2 min read
TPR fines Now Pensions and trustee £50,000 each for reporting failures

TPR fines Now Pensions and trustee £50,000 each for reporting failures

Two fines given relating to ‘historic failures’ to report significant communication errors

Jasmine Urquhart
clock 18 July 2025 • 2 min read
Government and industry 'united' in determination to drive returns and boost UK investment

Government and industry 'united' in determination to drive returns and boost UK investment

Reeves said measures in the Pension Schemes Bill will mean larger and more powerful pots of funding invested productively

Professional Pensions
clock 16 July 2025 • 1 min read
Trustpilot