Hodgson & Ors v Toray Textiles Europe Ltd [2007] EWHC 444 (Ch) (09 March 2007)

Hodgson & Ors v Toray Textiles Europe Ltd [2007] EWHC 444 (Ch) (09 March 2007)

There is no warrant for implying a limitation into the power of amendment in clause 17 of the Toray interim deed or the obligation to execute a definitive deed under clause 4; the trustees did not act in excess of their powers in executing the Toray definitive deed.

Citation
[2007] EWHC 444 (Ch)
Parties
Claimant: Adrian Hodgson; Claimant: Christopher Moffett; Claimant: Neil Gregory; Claimant: David Calvert; Claimant: Richard James Stephens; Defendant: Toray Textiles Europe Limited; Defendant: Michael Anthony Skinner; Defendant: Deborah Tina Ford
Jurisdiction
England and Wales
Judgment Date
09 March 2007
Procedural Posture
Chancery Division Civil Claim / Post Judgment Clarification on Powers of Amendment
Outcome
Claim dismissed
Legal Topics
Pension Scheme Amendment Powers, Accrued Benefits Protection, Retrospective Amendments, Trustee Powers, Barber Window Rights
Pensions Trusts Employment Pension Scheme Amendment Powers Accrued Benefits Protection Retrospective Amendments Trustee Powers Barber Window Rights

Case Brief

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Parties

Adrian Hodgson

Claimant

Christopher Moffett

Claimant

Neil Gregory

Claimant

David Calvert

Claimant

Richard James Stephens

Claimant

Toray Textiles Europe Limited

Defendant

Michael Anthony Skinner

Defendant

Deborah Tina Ford

Defendant

Procedural Posture

Chancery Division Civil Claim / Post Judgment Clarification on Powers of Amendment

Legal Issues

  1. 1 Whether the trustees acted outside their powers in executing the Toray definitive deed by retrospectively altering accrued pension benefits
  2. 2 Whether limitations should be implied into the power of amendment under the Toray interim deed

Ratio Decidendi

There is no warrant for implying a limitation into the power of amendment in clause 17 of the Toray interim deed or the obligation to execute a definitive deed under clause 4; the trustees did not act in excess of their powers in executing the Toray definitive deed.

Court Disposition

Claim dismissed