3rd January 2018 Rosalind Connor comments in Pensions Expert on PPF taking a tough stance against Toys R Us insolvency
PPF has continued to block the terms of a Company Voluntary Arrangement proposed by Toys R Us and demanded £9m to be injected into their pension scheme.
Toys R Us has claimed that it wants to continue sponsoring its scheme and offered to shorten its recovery plan from 15 to 10 years, while paying a sum greater than its planned annual contribution of £1.6m.
Rosalind Connor commented:
“It’s sometimes quite hard to persuade [companies] that they really need to take the PPF seriously,” she said.
“It’s actually very good for the industry that people see the PPF every now and then just saying ‘no’.”
Read the full article in Pensions Expert here
The views in this article are intended for general information purposes only and should not be used as a substitute for professional advice. ARC Pensions Law and the author(s) are not responsible for any direct or indirect result arising from any reliance placed on content, including any loss, and exclude liability to the full extent. Always seek appropriate legal advice from a suitably qualified lawyer before taking, or avoiding taking, any action. If you have any questions on the points raised in the above, please do not hesitate to get in touch.