Pensions Regulator Backs UK Fashion Co.'s Cash Injection

Law360, London (June 5, 2019, 9:48 PM BST) -- The U.K.'s pensions regulator on Wednesday backed a plan by embattled English billionaire Philip Green's fashion chain holding company, Arcadia Group, to inject cash into its safety net for workers at some of England's most iconic brands.

The Pensions Regulator said the enhanced level of support meant the proposals, known as a company voluntary arrangement, were “sufficient” because they provided better protection for the 9,500 members of the pension plan.

“We recognize that the best support for any pension scheme is a trading employer and we feel the CVA proposals now provide the right balance between security for the pension schemes...

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