Skip to main content

Herbert Smith Freehills LLP


Posted: 19 Aug, 2021

The judgment in Re Virgin Active Holdings Limited [2021] EWHC 1246 has empowered the use of restructuring plans under Part 26A to the Companies Act 2006 (‘RPs’) to compromise the rights of unsecured creditors based on evidence that they would receive little or no return on an insolvency.  

This is potentially significant for defined benefit pension schemes.  In this article published in the International Corporate Rescue Journal, Samantha Brown, John Whiteoak and Phillip Lis consider how this may affect the role of scheme trustees and other stakeholders in restructurings and the hurdles and potential risks to companies considering compromising pension liabilities without trustee consent.

This article first appeared in Volume 18, Issue 4 of International Corporate Rescue and is reprinted with the permission of Chase Cambria Publishing - www.chasecambria.com.


Back to News

TMA news

17 Aug, 2021

TMA UK welcomes new Director to the board

On behalf of Paul Davies, TMA UK President we are...

04 Aug, 2021

Protecting Profits from Inflation

This month, the threat of rising inflation has...

01 Jul, 2021

TMA NextGen Fireside Chats Launch Event

Last week, TMA NextGen launched its ‘Fireside...

Sponsor news

19 Aug, 2021

WHAT ARE THE IMPLICATIONS OF RESTRUCTURING PLANS FOR DEFINED BENEFIT PENSION SCHEMES?

The judgment in Re Virgin Active Holdings Limited [2021] EWHC 1246 has empowered the use of...

17 Aug, 2021

The gloves are off: HMRC is gearing up to resume collection of tax arrears

This follows my blogs posted last week about the significant accrual of PAYE and VAT arrears due to...

Tweets

TMA UK @UK_TMA · 23 days ago

TMA UK Annual Conference - Countdown 86 days to go! We are delighted to announce that the 2018 Apprentice Winner… twitter.com/i/web/status/1…

TMA UK @UK_TMA · one month ago

The TMA UK South East Counties Fast and Furious event Sept 8th at Pilgrim Motors, West Sussex. This is the largest… twitter.com/i/web/status/1…

JCR

June 2021