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In relation to the Great Lakes UK Limited Pension Plan a settlement was again reached before a full hearing with the Determination Panel could take place as reported by tPR on 13 July 2011.

Filed under:

United Kingdom, Employee Benefits & Pensions, Insolvency & Restructuring, BDB Pitmans LLP, Bankruptcy, Debt, Liability (financial accounting), Sponsor (commercial), Parent company, Buyout, Pensions Act 2004 (UK), Trustee

Authors:

Parminder Latimer

Location:

United Kingdom

Firm:

BDB Pitmans LLP

Olympic efforts required by overseas employers to gain PPF protection

2013-07-29

The judgment handed down on 6 June 2013 by the Court of Appeal in the case of The Trustees of the Olympic Airlines SA Pension and Life Assurance Scheme v Olympic Airlines SA [2013] EWCA Civ 643 reversed a High Court decision made in May 2012 that a winding up order could be granted in the UK in respect of Olympic Airlines, the Greek national airline, which was in liquidation in Greece as a result of it receiving illegal state aid and the privatisation of the airline business.