No5 Chambers wins major appeal in the Desmonds Pension Scheme litigation

Richard Hitchcock and Farhaz Khan of No5 Chambers represented the appellant trustee in the Desmonds Pension Scheme case, in which the Court of Appeal of Northern Ireland has handed down its decision.

In the case, the trustee and the pensions regulator were seeking to recover compensation for scheme members who lost out when Desmonds went into members’ voluntary liquidation, and many millions of pounds that could have reduced or eliminated the deficit in the scheme were paid instead to the shareholders — principally the Desmond family.