The trustees of the Box Clever Group Pension Scheme committed a form of "reverse moral hazard" by running the scheme on while its participating employers were in administrative receivership, ITV has claimed.
The Pensions Regulator (TPR) has rebutted an assertion by ITV that its anti-avoidance action in relation to the Box Clever Group Pension Scheme is a breach of the human right to property.
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.