International Corporate Rescue
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Vol 18 (2021) - Issue 1
Article preview
Granada Rental v The Pensions Regulator: The Court of Appeal Considers the Power to Issue Financial Support Directions
Stefanie Wilkins, Barrister, South Square, London, UKSynopsis
In Granada UK Rental & Retail Limited and others v The Pensions Regulator and another [2019] EWCA Civ 1032, the Court of Appeal considered the scope of the power of the Pensions Regulator to issue financial support directions (FSDs), particularly in respect of circumstances which pre-dated the commencement of the Pensions Act 2004, and considered the appropriate approach to the question whether it was 'reasonable' to impose an FSD. The Court also addressed the question whether the target companies were 'an associate of the employer' in circumstances where an administrative receiver had been appointed.
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