BESTrustees plc v Kaupthing Singer & Friedlander Ltd – WLR Daily

Posted March 20th, 2012 in insolvency, law reports, pensions, valuation by sally

BESTrustees plc v Kaupthing Singer & Friedlander Ltd [2012] EWHC 629 (Ch); [2012] WLR (D) 84

“Where an insolvency event had occurred in relation to an employer, thereby triggering a calculation of the deficiencies in the assets of a pension fund under section 75 of the Pensions Act 1995, the time at which both the value of the pension scheme assets and the cost of the notional acquisition of annuities in the market to match its liabilities should be assessed was the ‘applicable time’ within the meaning of regulation 5 of the Occupational Pension Schemes (Employer Debt) Regulations 2005, which, in the form which the regulation 5 had taken as at 8 October 2008, was the date of the insolvency event.”

WLR Daily, 16th March 2012