The Trustee of the Singer & Friedlander Ltd Pension and Assurance Scheme v Corbett

The Trustee of the Singer & Friedlander Ltd Pension and Assurance Scheme v Corbett

The section 75 debt under the Pensions Act 1995, as amended by the Pensions Act 2004, is assignable by the trustees or managers of the scheme. The 2004 Act does not manifest an intention to alter the nature of the section 75 debt, and assignment is consistent with the statutory purpose and case law.

Parties
Claimant: The Trustee of the Singer & Friedlander Limited Pension and Assurance Scheme; Defendant: Richard Panton Corbett
Jurisdiction
England and Wales
Judgment Date
16 October 2014
Procedural Posture
Civil / Judgment
Outcome
declarations granted
Legal Topics
Assignability of Pension Debts, Section 75 Pensions Act 1995, Moral Hazard Provisions, Contribution Notices, Scheme Winding Up
Pensions Insolvency Trusts Assignability of Pension Debts Section 75 Pensions Act 1995 Moral Hazard Provisions Contribution Notices Scheme Winding Up

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Parties

The Trustee of the Singer & Friedlander Limited Pension and Assurance Scheme

Claimant

Richard Panton Corbett

Defendant

Procedural Posture

Civil / Judgment

Legal Issues

  1. 1 Is the section 75 debt under the Pensions Act 1995 assignable by the trustee?
  2. 2 Can the trustee enter into an assignment of the debt as a reasonable and properly advised trustee?

Ratio Decidendi

The section 75 debt under the Pensions Act 1995, as amended by the Pensions Act 2004, is assignable by the trustees or managers of the scheme. The 2004 Act does not manifest an intention to alter the nature of the section 75 debt, and assignment is consistent with the statutory purpose and case law.

Court Disposition

declarations granted

Orders

  • Declaration that the section 75 debt is assignable by the trustee.
  • Declaration that assignment is something a reasonable and properly advised trustee could enter into in the exercise of its powers.