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Legal Update

Pensions Perspective - High Court Pensions Ruling Favours Pensions Regulator

December 2010
Mayer Brown Legal Update
The High Court has this morning decided that the costs of complying with Financial Support Directions (“FSDs”) issued to certain Nortel and Lehman companies by the Pensions Regulator (“TPR”) earlier this year qualify as “super priority” administration expenses, payable in priority to unsecured creditors, floating charge holder and the administrator’s own costs.
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