Weighing UK Pensions Regulator’s Moral Hazard Powers

Law360, New York (August 26, 2011, 4:29 PM EDT) -- Since the introduction of the Pensions Act 2004 (as amended by the Pensions Act 2008, the “Pensions Act”), corporate groups where a United Kingdom company operates a defined benefit pension scheme (“DB Scheme”) at a deficit, their creditors, investors and restructuring professionals have become, and should be, concerned about the powers of the U.K. Pensions Regulator (tPR) to impose liabilities on persons other than the sponsoring employer of the DB Scheme, and the potential extra-territorial scope of these powers within complex group structures.

These powers will...
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