Lessons from Lehman
By Louisa Knox
The Pensions Regulator has reported that a settlement agreement had been reached in respect of the Lehman Brothers Pension Scheme.
The announcement marks the end to six years of litigation and will undoubtedly be welcome news for the members of the scheme. The compromise reached requires certain Lehman Brothers group companies to pay the trustees an amount expected to allow the scheme’s liabilities to be bought out in full with an insurance company (i.e. the full buy-out debt). The scheme will therefore not enter the Pension Protection Fund (PPF).
In September 2008, the sponsoring employer of the Lehman Brothers Pension Scheme famously went into administration. This triggered a section 75 debt of £119m owed by the employers to the pension scheme…
Click on the link below to read the rest of the Eversheds briefing.
Sign in or Register to continue reading this article
It's quick, easy and free!
It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.Register now
Why register to The Lawyer
In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.
Identify the major players and business opportunities within a particular region through our series of free, special reports.
Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.
More relevant to you
To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.
News from Shepherd and Wedderburn
News from The Lawyer
Briefings from Shepherd and Wedderburn
The Technology and Construction Court recently discussed whether an adjudicator’s decision was finally binding.
The power of predictive coding – the coming together of human reasoning and advanced technology – as an interrogation tool.
Analysis from The Lawyer
With banking, personal injury and M&A all down, law firm mergers are in the bracing Scottish air