Insights / News

Follow

Andrew Spink QC and Saul Margo: “most important” settlement reached by TPR

Andrew Spink QC and Saul Margo represented the Trustees of the Coats Pension Plan in regulatory proceedings brought by the Pensions Regulator against the Coats Group. The case raised novel issues concerning the interpretation of the legislation concerning Financial Support Directions and, in particular, the Regulator’s jurisdiction to conduct its own calculations in order to determine whether a scheme is insufficiently resourced.

Following the exchange of Representations, the Regulator and the Trustees have achieved a settlement with the Coats Group that will protect the pensions of 24,000 scheme members in a deal described by John Ralfe (an independent pensions consultant) as “the most important” one that the Regulator has reached. This is the first settlement of such an action achieved against a solvent company and could provide a blueprint for similar deals in the future.

News 20 Dec, 2016

Authors

Andrew Spink QC

Call: 1985 Silk: 2003

Saul Margo

Call: 2005

Portfolio Builder

Select the expertise that you would like to download or add to the portfolio

Download    Add to portfolio   
Portfolio
Title Type CV Email

Remove All

Download


Click here to share this shortlist.
(It will expire after 30 days.)