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Legal Developments worldwide

Pensions Clearance - Sense and sensibility. Share sales from an administration, Oct 2005

August 2007 - Insolvency & Restructuring. Legal Developments by KPMG LLP.

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A welcome decision from the Pensions Regulator may give comfort to lenders and corporate groups in distressed situations. Where circumstances allow, clearance may be available to protect subsidiary companies from Financial Support Directions (FSDs) where the holding company is insolvent, thus allowing viable companies to be subject to share sales. Lenders and corporates can also be reassured that the Regulator is displaying a reasonable and proportionate attitude. (Lender Briefing - 212716)

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