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Legal Update

First Contribution Notice issued by The Pensions Regulator in the context of a pre-pack administration

July 2010
Mayer Brown Legal Update
The Pensions Regulator (“TPR”) has for the first time issued a contribution notice of £5 million, ordering a Belgian company, Michel Van De Wiele, (“VDW”) to make good a gap in the pension scheme of its UK subsidiary, Bonas UK Limited (“Bonas”), which it claimed had been placed into administration to avoid maintaining the fund. The contribution notice was issued on 29 June 2010.
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