Developer wins bid to protect foreign pensions in bankruptcy

By Silvia Martelli (February 15, 2022, 18:19 GMT) — A London court ruled in favor of a property developer on Tuesday following an EU court ruling on the protection of foreign pension benefits in the event of bankruptcy, because he refused to hear arguments from the trustees seeking to prove that there is a good reason not to protect these advantages from creditors.

Judge Christopher Nugee agreed with Michael McNamara, a high-profile Irish property developer who went bankrupt in England, ruling in the High Court that he would not hear arguments from trustees in bankruptcy that there is a justification for UK rules that do not automatically exclude pension benefits from insolvency…

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Terri S. Tomasini