News & Events
News & Events
Richard Hitchcock KC and Lydia Seymour acted for the successful Claimant in Avon Cosmetics Ltd v Dalriada Trustees & Ors, an important Chancery Division authority on the consequences of powers in pension scheme trust deeds being exercised partly outside their scope. The case concerned an amendment to remove members’ entitlement to a final salary link to their accrued benefits, where the amendment power contained a Re Courage – type restriction, but where ultimately some members had done better and some worse by reason of the amendment. The Court concluded that the members who had benefitted by the amendment would retain their more valuable benefits even if the amendment was invalid in relation to those who had lost out. The Judgment,…
News 19 Jan, 2024
Andrew Short KC, David E Grant KC, Philip Stear and Helen Pugh were in Court of Appeal this week for the long running pensions and company law dispute (1) Dr Ewan McGaughey (2) Dr Neil Davies -v- Universities Superannuation Scheme Ltd. David E Grant and Philip Stear acted on behalf of the Appellants, instructed by Leigh Day, in the Court of Appeal in (1) Dr Ewan McGaughey (2) Dr Neil Davies -v- Universities Superannuation Scheme Ltd. Andrew Short KC and Helen Pugh acted on behalf of the Respondent, instructed by CMS Cameron McKenna Nabarro Olswang LLP. The claim brought by members of a pension scheme is as a common law derivative action. This ground-breaking case has raised novel issues with…
News 15 Jun, 2023
Judgment was recently handed down by the High Court in Univar v Smith & Ors. Michael Uberoi’s article looking at some of the key issues in the judgment has been published in Practical Law (Pensions). Univar v Smith & Ors [2020] EWHC 1596 (Ch) was the first contested application for the rectification of pension scheme documentation for over eight years, and was also the first judgment by the High Court to apply the Court of Appeal’s new, subjective test for rectification, as declared by Leggatt LJ in FSHC Group Holdings Ltd v GLAS [2019] EWCA Civ 1361. The 15 day trial involved cross-examination of over a dozen trustee and company witnesses who were the relevant decision-makers for the scrutinised Deed,…
News 11 Sep, 2020
