TPR has confirmed that on 31 January 2008 Sea Containers Limited withdrew its appeal to the Pensions Regulator Tribunal against a decision reached by the Determinations Panel in June 2007 to issue two Financial Support Directions on the company.

As a result of the withdrawal of the appeal, the Determinations Panel issued two Financial Support Directions on Sea Containers Limited which, as parent company, must now provide financial support for two pension schemes belonging to its London-based UK subsidiary Sea Containers Services Limited.

Sea Containers Limited will be compelled to provide a form of financial support to the two schemes within 30 days of the Financial Support Directions being issued.

View the press release.