Stena Line Ltd v Merchant Navy Ratings Pension Fund Trustees Ltd & Anor [2010] EWHC 1805 (Ch) (27 July 2010)

Stena Line Ltd v Merchant Navy Ratings Pension Fund Trustees Ltd & Anor [2010] EWHC 1805 (Ch) (27 July 2010)

The Trustee retains the power under clause 30 of the 2007 Deed to amend the Scheme to impose deficit repair contribution obligations on Specified Employers. The 2001 Deed and Rules did not irrevocably release Specified Employers from such liability, nor did any estoppel by convention arise to prevent the exercise of the amendment power. The language of the Deed and Rules, the context, and the absence of unequivocal communications or reliance by Specified Employers preclude the existence of such an estoppel. The amendment power remains as broad as before, subject only to the express limitations in the Deed.

Citation
[2010] EWHC 1805 (Ch)
Parties
Claimant: Stena Line Limited; First Defendant: Merchant Navy Ratings Pension Fund Trustees Limited; Second Defendant: P&O Ferries Limited
Jurisdiction
England and Wales
Judgment Date
27 July 2010
Procedural Posture
Part 8 Claim / First Instance Judgment
Outcome
Claim allowed
Legal Topics
Pension Scheme Amendment Powers, Deficit Repair Contributions, Estoppel by Convention, Interpretation of Trust Deeds, Employer Obligations in Pension Schemes
Pensions Trusts Employment Pension Scheme Amendment Powers Deficit Repair Contributions Estoppel by Convention Interpretation of Trust Deeds Employer Obligations in Pension Schemes

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Parties

Stena Line Limited

Claimant

Merchant Navy Ratings Pension Fund Trustees Limited

First Defendant

P&O Ferries Limited

Second Defendant

Procedural Posture

Part 8 Claim / First Instance Judgment

Legal Issues

  1. 1 Whether the Trustee has power under clause 30 of the 2007 Deed to amend the Scheme to impose deficit repair contribution obligations on Specified Employers
  2. 2 Whether the 2001 Deed and Rules irrevocably released Specified Employers from further liability for deficit repair contributions
  3. 3 Whether an estoppel by convention prevents the Trustee from amending the Scheme to impose such obligations

Ratio Decidendi

The Trustee retains the power under clause 30 of the 2007 Deed to amend the Scheme to impose deficit repair contribution obligations on Specified Employers. The 2001 Deed and Rules did not irrevocably release Specified Employers from such liability, nor did any estoppel by convention arise to prevent the exercise of the amendment power. The language of the Deed and Rules, the context, and the absence of unequivocal communications or reliance by Specified Employers preclude the existence of such an estoppel. The amendment power remains as broad as before, subject only to the express limitations in the Deed.

Court Disposition

Claim allowed

Orders

  • Declaration that the Trustee has power under clause 30 of the 2007 Deed to amend the Scheme to impose deficit repair contribution obligations on Specified Employers.
  • Representation orders made as agreed between the parties.