20 June 2007
In a landmark decision, the Pensions Regulator is set to demand
that Sea Containers, owner of the GNER train company, pay more than
£90 million into its British pension scheme.
This is the first time that the Pensions Regulator has obtained
permission to demand cash on behalf of the pension scheme trustees
from a company that it fears will abandon its pension
liabilities.
The payment order is likely to be the Pension Regulator's
toughest test.
