13 December 2010
Mr Justice Briggs of the High Court ruled that where a Financial
Support Direction (FSD) is issued against a company after
insolvency, the cost of complying with the direction is an expense
to be included in the insolvency and therefore must be paid before
any distributions to the creditors.
The ruling was made as a result of the administrators of the
Lehman Brothers and Nortel Groups appealing against the FSD which
was issued in September 2010.
To see the full press release from The Pensions Regulator click here
