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Legal Update

Upper Tribunal criticises size of the £5 million contribution notice in the Bonas case

25 January 2011
Mayer Brown Legal Update
In June of last year The Pensions Regulator (TPR) issued, for the first time, a contribution notice of just over £5 million, ordering a Belgian company, Michel Van De Wiele, (VDW) to make good a gap in the pension scheme (Scheme) of its UK subsidiary, Bonas UK Limited (Bonas), which it claimed had been placed into administration to avoid maintaining the Scheme.
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