Pensions | Seminars

The Pensions Bill 2004 - the future shape of corporate transactions
Thursday 18th November 2004
at 222 Gray's Inn Road, London WC1X 8XF

Chairman
David Harrel
Senior Partner, SJ Berwin

Speakers
Steven Davis
Partner, Corporate department, SJ Berwin

Wyn Derbyshire
Partner, Employment & Pensions department, SJ Berwin

James McLeod
Solicitor, Employment & Pensions department, SJ Berwin

Richard Nobbs
Partner, CheckleyFisher

Jeremy Stone
Trustee, WH Smith Pension Scheme

Background
On 27 April 2004 the Government announced new "moral hazard" clauses to the Pensions Bill 2004. The clauses were publicly attacked both because of their retrospective effect, and the damage they would cause corporate transactions and to reconstruction/insolvency business. The Government agreed to revisit the clauses during the summer recess, but their future shape is far from clear. This seminar will aim to consider the effect of the clauses on corporate transactions - as far as this may be possible - at a time when their provisions should be clearer.

Timetable
18.00 Registration
18.15 Seminar Commences
20.00 Drinks Reception

Programme
Points to cover will include:

  • Background to and value of the PPF
  • Clause 43: ongoing requirements to contribute to schemes
  • Clause 270: pensions and corporate transactions
  • Clause 39: the pensions regulator and corporate transactions
  • Actuarial aspects - buyout levels/annuity purchases etc
  • Effects of changes on corporate transactions
Wyn Derbyshire, SJ Berwin
  • Debt on the Employer
  • The Pensions Regulator
James McLeod, SJ Berwin
  • Financial Support Directions
  • Pension Protection Fund
Richard Nobbs, CheckleyFisher
  • Effect of new legislation
  • Risk levels
  • Solvency, funding and cost
  • Mitigation
Steven Davis, SJ Berwin
  • Pensions deficit: an ongoing obligation or quasi debt?
  • The new corporate creditor
  • Covenant strength
  • The threat/power to wind up
Jeremy Stone, WH Smith Pension Scheme Trustee
  • The trustee in the eye of the storm: experience at WH Smith

Training
SJ Berwin is accredited as a provider of continuing professional development by the Law Society and other professional bodies. Attendance at each seminar qualifies as 1.5 CPD hours, quoting reference 012/SJBE.

RSVP
RSVP by E-mail to katie.cowley@sjberwin.com including in the message your name and organisation. Alternatively by fax on 020 7533 2000. Colleagues are welcome to come in your place.

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