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When are employee debts recoverable from the Secretary of State?

Employees who transfer to a new employer from a business that is under insolvency proceedings may be able to recover unpaid wages and other debts from the Secretary of State.

However, BIS v Dobrucki has confirmed that the Secretary of State will only pick up the liabilities of the old employer (the transferor).  It will not be responsible for liabilities that are incurred after the transfer has taken place; that is, any liability of the new employer (the transferee).

The background

United Kingdom, Employment & Labor, Insolvency & Restructuring, Litigation, Burges Salmon LLP
Horton v Henry: the impact on a trustee in bankruptcy’s power to exercise options on behalf of the bankrupt

Preamble

The background

United Kingdom, Employee Benefits & Pensions, Insolvency & Restructuring, Litigation, Burges Salmon LLP, Bankruptcy
The Budget 2014 - the impact of the new flexibilities on the pensions of bankrupts

Introduction

The Chancellor’s 2014 Budget speech revealed significant  changes to the way in which pension scheme members will be  able to access their savings. This move falls as just one of a raft  of changes to workplace pensions which Steve Webb MP has  described as a “pensions revolution”.

United Kingdom, Employee Benefits & Pensions, Insolvency & Restructuring, Litigation, Burges Salmon LLP, Bankruptcy, Debtor, Initial public offerings, Insolvency Act 1986 (UK)