What to Expect

With restructurings having been relatively subdued over the previous two years, the implications of the 2021 Pension Schemes Act have not often been tested in distress situations. The Act introduced significant new considerations for handling the restructuring and insolvency of companies with UK defined benefit pension schemes.

Against a backdrop of increasing market stress, this seminar explores the responsibilities, risks and practical issues involved in dealing with pension stakeholders in distressed situations. With around 5,500 UK defined benefit schemes still in existence, particularly in sectors exposed to market headwinds, the topic remains highly relevant.

The session also examines the Wilson v McNamara litigation and the question of whether an Irish pension scheme would fall within an English bankruptcy estate.