The American Bankruptcy Institute Commission to Study the Reform of Chapter 11 today released its long-awaited, much-anticipated Final Report and Recommendations.

In the November 2013 edition of Pensions Pieces we referred to the Olympic Airlines case where a UK pension scheme could not qualify for entry to the Pension Protection Fund ('the PPF') because its sponsoring employer was suffering main liquidation proceedings in Greece, and further insolvency proceedings could not be established to satisfy the current entry conditions