Pension problems—seeking Bacci v Green relief in the High Court (Cohen v O’Leary)

Article summary

Restructuring & Insolvency analysis: This case involved an application for relief akin to that upheld by the Court of Appeal in Bacci v Green, where it was held that the court had the power under section 37(1) of the Senior Courts Act 1981 (SCA 1981) to appoint a receiver over (or grant an injunction in respect of) the totality of a defendant’s right to give instructions to their pension scheme’s trustees. The application was adjourned, and the judge gave useful guidance on the information which a court is likely to require before making a decision on whether or not to grant such relief. There was also discussion of the test for determining whether a (judgment) debt had been incurred in respect of fraud or fraudulent breach of trust pursuant to section 281(3) of the Insolvency Act 1986 (IA 1986). The time at which an application for permission under IA 1986, s 285(3) (to bring proceedings against a...