Raithatha v Williamson (4 April 2012) and Blight and others v Brewster (9 February 2012)
Most pension schemes give the beneficiary an option as to when to start to draw the pension, and whether or not to draw a tax free lump sum. These two cases confirm that a trustee in bankruptcy and a judgment creditor are each entitled to compel a debtor to draw the maximum permitted by the scheme rules, so that the monies realised as a result are available to pay the debt.
Pension schemes and bankruptcy
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What does it mean and why does it matter?
The Supreme Court has held that the balance sheet test for insolvency is not whether the company has "reached the point of no return", but neither is it an objective test taking the company’s assets and liabilities at face value.
What does the decision mean?
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