Pension schemes with FSDs rank as unsecured creditors: Nortel and Lehmans
Financial support directions (FSDs) are orders from the Pensions Regulator to other members of a corporate group to stand behind the obligations of a service company or under-resourced employer and provide financial support to an underfunded defined-benefit scheme. The Pensions Regulator issues a formal warning notice to the companies it considers in scope, and a […]