- Exploring pension regulator’s powers to impose financial support directions (Granada UK Rental & Retail Ltd and other companies v The Pensions Regulator)
- What are the practical implications of this case?
- What was the background?
- What did the Court of Appeal decide?
- Connected parties
Banking & Finance analysis: The case of Granada UK Rental & Retail Ltd and other companies v The Pensions Regulator (Box Clever case) illustrates the caution that employers must exercise when establishing defined benefit pension schemes and that the pensions regulator (TPR) will take a tough stance against such schemes when insufficiently funded. Dominic McCahill, retired partner, and Edward Taylor, associate, at Skadden, Arps, Slate, Meagher & Flom, discuss the background to and the practical implications of the judgment.
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