LB Re Financing No 1 Ltd & 36 Ors v Lehman Brothers Pension Scheme, Trustees of

LB Re Financing No 1 Ltd & 36 Ors v Lehman Brothers Pension Scheme, Trustees of

Trustees of a pension scheme are 'directly affected persons' with standing to refer a Determinations Panel decision to the Upper Tribunal under section 96(3) of the Pensions Act 2004, and the two-year time limit in section 43(9) does not apply to directions given by the Upper Tribunal on such a reference.

Parties
Appellants: LB RE Financing No 1 Limited and 36 others; First Respondent: The Trustees of the Lehman Brothers Pension Scheme; Second Respondent: The Pensions Regulator & Ors
Jurisdiction
England and Wales
Judgment Date
21 June 2013
Procedural Posture
Civil Appeal / Appeal From Upper Tribunal (tax & Chancery Chamber)
Outcome
Appeal dismissed
Legal Topics
Standing of Trustees, Statutory Interpretation, Financial Support Directions, Time Limits for Regulatory Action
Pensions Law Administrative Law Standing of Trustees Statutory Interpretation Financial Support Directions Time Limits for Regulatory Action

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Parties

LB RE Financing No 1 Limited and 36 others

Appellants

The Trustees of the Lehman Brothers Pension Scheme

First Respondent

The Pensions Regulator & Ors

Second Respondent

Procedural Posture

Civil Appeal / Appeal From Upper Tribunal (tax & Chancery Chamber)

Legal Issues

  1. 1 Whether trustees of a pension scheme are 'directly affected persons' (DAPs) with standing to refer a Determinations Panel decision to the Upper Tribunal under section 96(3) of the Pensions Act 2004
  2. 2 Whether the two-year time limit in section 43(9) of the Pensions Act 2004 applies to directions given by the Upper Tribunal on a reference

Ratio Decidendi

Trustees of a pension scheme are 'directly affected persons' with standing to refer a Determinations Panel decision to the Upper Tribunal under section 96(3) of the Pensions Act 2004, and the two-year time limit in section 43(9) does not apply to directions given by the Upper Tribunal on such a reference.

Court Disposition

Appeal dismissed

Orders

  • The appeal is dismissed; the Trustees have standing as DAPs; the two-year time limit does not bar the Upper Tribunal's directions.