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Pensions Regulator Can't Add Valuation Bid To ITV Appeal

Law360, London (May 16, 2019, 11:21 PM BST) -- The Court of Appeal rebuffed The Pensions Regulator on Thursday for attempting to squeeze a cross-appeal on valuation into its defense of an enforcement action requiring ITV to plug a troubled pension scheme's funding gap, saying it does not have jurisdiction to entertain the request.

The exchange occurred at an appeals hearing over TPR's decision forcing ITV to support the 2,800-member pension scheme of Box Clever — a television rental business that collapsed in 2001 — which is stuck with a £115 million ($149 million) deficit.

Nicholas Stallworthy QC, counsel for TPR, had filed a respondent's notice with the appellate court...

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