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Pensions regulator withdraws threat of FSD
  • Herbert Smith Freehills LLP
  • United Kingdom
  • July 15 2011

The Pensions Regulator announced this week that it will not pursue action to impose a Financial Support Direction against US company, Chemtura Corporation and members of its group after a funding settlement, involving the payment of expedited contributions to the pension scheme of its UK subsidiary, was reached with the scheme's trustees

Scottish court rules that trustee claims are admissible in the winding up of an insolvent participating employer
  • Herbert Smith Freehills LLP
  • United Kingdom
  • February 1 2011

A claim by trustees against an insolvent participating employer (who has ceased to participate in the pension scheme) for its share of the scheme deficit is a contingent obligation at the date of winding up and is admissible in the winding-up

FSD determination affecting Lehman Brothers scheme
  • Herbert Smith Freehills LLP
  • United Kingdom
  • September 30 2010

On 17 September, the Pension Regulator's Determinations Panel announced that it had issued a determination that six companies within the Lehman Brothers group (including the group's main operating companies in the UK as well as the US parent Lehman Brothers Holding Inc.) should provide financial support to the Lehman Brothers Pension Scheme