The Government is proposing to amend (for a twelfth time!) the Regulations under s75 Pensions Act 1995. The amendments would make it easier to vary the basis on which liability is shared between employers.
Background – the Regulations as they stand
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United Kingdom, Corporate Finance/M&A, Employee Benefits & Pensions, Insolvency & Restructuring, Mayer Brown, Share (finance), Public consultations, Debt, Liability (financial accounting), Default (finance), Deregulation, Federal Aviation Administration, Constitutional amendment, Pensions Act 1995 (UK), Trustee
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On April 7, 2010, the Florida Office of Insurance Regulation declared Northern Capital Insurance Company, a Florida-based property insurer, to be “insolvent and in hazardous financial condition.” The company had been under the administrative supervision of the Office of Insurance Regulation since May 29, 2009. The company is expected to be placed into receivership and all of its policies are expected to be cancelled shortly after the entry of an order of liquidation.
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