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Regulator Imposed Support for Pension Schemes: A New Category of Super Priority Insolvency Expense

International Corporate Rescue, Volume 8, Issue 1
A new category of super priority insolvency expense has been established by the High Court which will have wide ranging implications for the restructuring world. Mr Justice Briggs held that the costs of complying with Financial Support Directions (‘FSDs’) issued by The Pensions Regulator (‘TPR’) qualify as administration expenses, payable in priority to unsecured creditors,floating charge holders and the administrator’s own remuneration and expenses.


  • Devi Shah
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  • Jessica Walker
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