Pension liabilities: High Court rules on failed firms
The decision relieves the burden which could have been imposed on the Pension Protection Fund financed from levies on occupational pension schemes.
Investment bank Lehmans went bust in 2008 with its UK-based pension fund 148m in the red and communication giant Nortel's European fund was 2.1bn in debt when it collapsed in 2009.
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Hide AdThe administrators of the companies had asked for clarification of the law after the Pensions Regulator tried to impose a statutory scheme designed to protect employees from under-funded pension schemes.