Directors, insolvency practitioners and third parties must tread carefully as new pensions offences lie in wait for the unwary

The Pension Schemes Act came into effect on 1 October 2021 introducing the possibility of criminal prosecution where the restructuring arrangements or corporate actions of directors, lenders, investors, advisers and other parties might affect the interests of a defined benefit pension scheme. The rules are broad.

 In this article published in the International Corporate Rescue Journal, Samantha Brown, John Whiteoak, Phillip Lis and Tim Smith consider how this may impact the approach to restructurings, lending and other corporate activity; outline what the sanctions are and their intention; and, the reporting and other operational considerations.

This article first appeared in Volume 18, Issue 6 of International Corporate Rescue and is reprinted with the permission of Chase Cambria Publishing.