Administrators Of Failed Pension Co. Drop Appeal

Law360, London (October 7, 2019, 1:23 PM BST) -- The administrators of a failed pension company have dropped an appeal against a decision by the Financial Ombudsman, which found that the business did not ensure investments were suitable for customers.

RSM Restructuring Advisory LLP, which is acting as administrator of Berkeley Burke SIPP Administration Ltd., said on Friday that it will not pay for an appeal because it wants to protect funds for creditors of the pension company.

The pension business of the Berkeley Burke Group has been fighting a 2017 decision by the Financial Ombudsman Service that the company did not carry out proper due diligence before allowing a...

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