Pensions, Contracts and Trusts: Legal Issues on Decision Making
May 2020 · Bloomsbury Publishing
Ebook
360
Pages
About this ebook
This is a topical area for the courts, which have moved to imply various limitations or tests on decision makers powers and when they can be challenged. This is made more difficult for lay users and lawyers alike in that implied restrictions are (by definition) not apparent from the words of the relevant contract itself.
These limits are applied by the courts not just to fiduciaries (such as trustees or directors), but also to non-fiduciaries (eg banks and employers).
Recent case law includes:
· Pitt v Holt (SC) – trustee decisions (2013)
· Braganza (SC) – contractual discretions (2015)
· Eclairs (SC) – directors powers: proper purposes (2015)
· IBM UK Holdings v Dalgleish (CA) – employer powers under pension plans (2017)
· British Airways (CA)– pension plan – proper purposes (2018)
The book reviews the relevant doctrines of:
· Interpretation rules
· Proper purposes;
· Due consideration of relevant factors
· Full perversity (no reasonable decision maker)
These limits are applied by the courts not just to fiduciaries (such as trustees or directors), but also to non-fiduciaries (eg banks and employers).
Recent case law includes:
· Pitt v Holt (SC) – trustee decisions (2013)
· Braganza (SC) – contractual discretions (2015)
· Eclairs (SC) – directors powers: proper purposes (2015)
· IBM UK Holdings v Dalgleish (CA) – employer powers under pension plans (2017)
· British Airways (CA)– pension plan – proper purposes (2018)
The book reviews the relevant doctrines of:
· Interpretation rules
· Proper purposes;
· Due consideration of relevant factors
· Full perversity (no reasonable decision maker)
About the author
David is a leading and highly experienced lawyer in the pensions field and related areas. He switched to practice as a barrister at the end of 2017, after 37 years practice as a solicitor, including 25 years as a partner in law firm Freshfields Bruckhaus Deringer. David's practice focuses on: Pensions law, Insolvency law, Employment law (involving pensions). David's practice as a solicitor included advising employers and trustees in relation to pension law matters, including corporate transactions, scheme funding, scheme mergers, scheme changes, employer insolvency and Pensions Regulator issues.
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