Listen to our latest webcast as John Whiteoak, Partner in our Restructuring, Turnaround and Insolvency (RTI) team, and Tim Smith, Professional Support Lawyer in our Pensions team, discuss the impact that the recent major reforms to the UK insolvency regime will have on defined benefit (DB) pension schemes and the Pension Protection Fund (PPF).
In particular, they consider the:
- significance of the new restructuring plan, which can be imposed on dissenting creditors
- impact of the new pre-insolvency moratorium and the super priority status that has been granted to bank debts and intra-group loans when a moratorium ends
- implications for the protection afforded by floating charges and other contingent assets, and
- immediate actions trustees of DB schemes ought to take.
For further analyis of the new insolvency regime and the impact on DB schemes, read our blog post.
CIGA 2020 Soundbites Series
This webcast forms part of a series of short, informative and user-friendly webcasts produced by our RTI team which examine different aspects of these reforms and consider the implications for companies in distress and their creditors, particularly landlords, suppliers, financial services providers and DB pension schemes.
Contact us
If you wish to discuss these changes further please contact a member of our pensions or RTI teams (see below) or speak to your usual Herbert Smith Freehills’ contact.
To receive our future updates on the latest developments affecting UK pension schemes and sponsors subscribe to our UK pensions blog.
Recent posts
Pensions Regulator declares 'no fowl' in failed Bernard Matthews rescue
Key contacts
Disclaimer
The articles published on this website, current at the dates of publication set out above, are for reference purposes only. They do not constitute legal advice and should not be relied upon as such. Specific legal advice about your specific circumstances should always be sought separately before taking any action.