20th September 2015 Anne-Marie Winton comments in Pensions Expert re Granada appeal threatens contingent asset arrangements
Anne Marie comments on Granada appealing a High Court ruling in an attempt to recover £40m of gilts from one of its pension schemes.
She said: “The risk is if the Court of Appeal finds shareholder approval is needed, it could well invalidate hundreds of [contingent asset deals].”
She added: “It’s no surprise that – with £40m of security at stake – attempts will be made to wiggle out of this commitment. However, if it does turn out that shareholder approval is required for some contingent assets, the industry-wide consequences could be profoundly serious.”
Read the full article in Pensions Expert here.
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