In a recent high profile case brought by the administrators of 20 insolvent companies in the Lehman and Nortel groups, the High Court ruled that the cost of complying with a financial support direction (“FSD”) issued after the date of the commencement of a company’s administration or liquidation by the Pensions Regulator would rank as an expense of the administration or liquidation.
United Kingdom, Employee Benefits & Pensions, Insolvency & Restructuring, Litigation, Reed Smith LLP, Debt, Liquidation, Unsecured creditor, Leverage (finance), The Pensions Regulator (UK), House of Lords, Pensions Act 2004 (UK), Trustee, Court of Appeal of England & Wales