L & Ors v M Ltd

L & Ors v M Ltd

Regulation 2(2) of the Entry Rules applies only to legally enforceable agreements that reduce the amount of a debt actually due at the time of the agreement, not to agreements affecting debts that may arise in the future; the Pension Proposal does not render the Scheme ineligible for entry into the Pension Protection Fund.

Parties
Claimant/respondent: L & ORS; Defendant/appellant: M LIMITED
Jurisdiction
England and Wales
Judgment Date
27 October 2006
Procedural Posture
Civil / Judgment
Outcome
Declarations granted; Pension Proposal does not render the Scheme ineligible for entry into the Pension Protection Fund.
Legal Topics
Pension Protection Fund Eligibility, Employer Debt Apportionment, Statutory Interpretation, Compromise of Pension Debts
Pensions Insolvency Trusts Pension Protection Fund Eligibility Employer Debt Apportionment Statutory Interpretation Compromise of Pension Debts

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Parties

L & ORS

Claimant/respondent

M LIMITED

Defendant/appellant

Procedural Posture

Civil / Judgment

Legal Issues

  1. 1 Interpretation of Regulation 2(2) of the Pension Protection Fund (Entry Rules) Regulation 205
  2. 2 Whether the Pension Proposal renders the Scheme ineligible for entry into the Pension Protection Fund
  3. 3 Temporal scope of 'debt due' under section 75 of the Pensions Act 1995

Ratio Decidendi

Regulation 2(2) of the Entry Rules applies only to legally enforceable agreements that reduce the amount of a debt actually due at the time of the agreement, not to agreements affecting debts that may arise in the future; the Pension Proposal does not render the Scheme ineligible for entry into the Pension Protection Fund.

Court Disposition

Declarations granted; Pension Proposal does not render the Scheme ineligible for entry into the Pension Protection Fund.

Orders

  • Declarations to be made accordingly.