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Pension – Pension scheme. The claimant challenged the legality of, and sought to set aside, arrangements granting the defendant trustee a first fixed equitable charge over gilts on the basis that the arrangements had been entered into in contravention of s 320 of the Companies Act 1985. The Chancery Division, in dismissing the application, held that the scheme was not voidable under s 320 of the Act, as the directors were contingent beneficiaries, and the trustee had been acting in its capacity as trustee of a pension scheme and had not been a 'connected person'. Further, the trustee was entitled to indemnification and interest concerning the costs of the proceedings.
Pension – Pension scheme. The claimant challenged the legality of, and sought to set aside, arrangements granting the defendant trustee a first fixed equitable charge over gilts on the basis that the arrangements had been entered into in contravention of s 320 of the Companies Act 1985. The Chancery Division, in dismissing the application, held that the scheme was not voidable under s 320 of the Act, as the directors were contingent beneficiaries, and the trustee had been acting in its capacity as trustee of a pension scheme and had not been a 'connected person'. Further, the trustee was entitled to indemnification and interest concerning the costs of the proceedings.
The Chair of the Bar sets out how the new government can restore the justice system
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