BT Loses Bid For Review Of £120M Pensions Ruling

Law360, London (November 29, 2018, 5:36 PM GMT) -- A London court has refused British Telecommunications PLC's last-gasp bid to overturn a ruling that will prevent the company from changing the way it will increase future annual payouts to members of its pension plan, potentially costing the firm around £120 million ($153 million).

BT had applied for a judicial review of the British government's decision to extend the index used to calculate annual increases to all members of public service pension plans to certain members of BT's pension plan, claiming the decision was unlawful. But a panel of two High Court judges denied the telecom giant's application. The court held...