Court of Appeal upholds High Court decision on validity of pension top up arrangements

Granada Group Limited v The Law Debenture Pension Trust Corporation p.l.c.

The Court of Appeal has today dismissed an appeal against the 2015 High Court decision in the Granada case.

The 2015 High Court decision had held that an arrangement set up to provide security for unfunded top-up pension promises made to directors of a company did not require shareholder approval and so was not voidable at the instance of the company.

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