New Judgment: Re Nortel Companies; Re Lehman Companies; Re Lehman Companies (No. 2)  UKSC 52
24 Wednesday Jul 2013
On appeal from:  EWCA Civ 1124.
These appeals raise questions of some significance arising out of the interrelationship of the statutory schemes relating to the protection of employees’ pensions and to corporate insolvency. The Court unanimously held that the liability under a Financial Support Direction pursuant to the Pensions Act 2004, issued after the company had gone into administration, should rank equally with the liabilities to other creditors.