ITV Told Again To Plug £115M Pension Scheme Deficit

Law360, London (June 20, 2019, 12:59 PM BST) -- The pensions regulator passed a major test of its powers after an appeals court in London on Thursday upheld its efforts to force broadcaster ITV to plug a major pensions shortfall that appeared before the watchdog was created.

The Court of Appeal said it was reasonable for the Upper Tribunal to find in favor of The Pensions Regulator and compel ITV PLC to support the 2,800-member pension scheme of Box Clever, a television rental business that collapsed in 2001. The scheme is stuck with a £115 million ($145 million) deficit.

The decision upholds the tribunal's finding that, even though ITV was...

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