Pension Scheme Says Debt Regs No Defense For Shipping Co.

Law360, London (February 15, 2018, 3:04 PM GMT) -- A pension trustee company has said in new High Court filings that debt regulations a Chinese shipping company is relying on to dodge payment of around £6.4 million ($9 million) do not apply, and that the defendant is liable to pay the debts.

The trustees of Johnson Stevens Agencies Ltd., a U.K.-based shipping firm known as JSA, are seeking to recover debts from China Shipping (U.K.) Agency Co. Ltd. and Multimodal Logistics Ltd., which acted as participating employers in the firm’s savings plan from Oct. 2001....
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.