Pensions Lobby Warns Over Impact Of Insolvency Bill
Law360, London (June 16, 2020, 4:38 PM BST) -- A pensions body has written to the government to warn of the "unintended negative consequences" of changes to insolvency laws that are working their way through Parliament.
The Pensions and Lifetime Savings Association said on Monday it has written about its concerns over the legislation to Paul Scully MP, a junior minister in the Department for Business, Energy and Industrial Strategy.
The association believes that the Corporate Insolvency and Governance Bill opened the door for bank lenders to be "higher up the pecking order" than employee pensions when it comes to recovering cash from an insolvent company.
"The new proposals will...
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