Supreme Court upholds Lehman and Nortel pensions appeals

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  • A triumph for the lawyers indeed. After going all the way to the Supreme Court, the Regulator will issue the FSD it intended to in the first place.

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  • It is difficult to square the headline to this article: 'Herbert Smith and Linklaters have triumphed...in the Supreme Court' with the reality of the situation which is that the former firm brought the case in front of the High Court in November 2010 to argue that FSDs should have no effect against insolvent companies and the latter firm were pursuing the exact same in front of their Lordships as late as May this year. David Arbuthnot is correct; if you stop to analyse this properly it is the Regulator which won this fight.

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