TUPE – “affected employees” and protective awards
In the recent case of I Lab Facilities Ltd v Metcalfe and others UKEAT/13/0224 the EAT ruled that where an insolvent company sold part of its business and closed the other part, the employees of the closed part of the business were not “affected employees” in relation to the sale. As a result, they were not entitled to be informed and consulted with under the Transfer of Unde…
The £450bn additional (!) pensions deficit
The European Insurance and Occupational Pensions Authority (EIOPA), the European Union’s technical level body for pensions and insurance supervisors, this week published its preliminary assessment of the quantitative impact on the funding of defined benefit (DB) pension schemes of applying EIOPA’s proposals for Solvency II type funding requirements to DB pension schemes. EIOP…
Pre-transfer dismissal as part of ‘mothballing’ by administrator was not for an ETO reason
In the recent case of Kavanagh & Ors v Crystal Palace FC (2000) Ltd, the EAT considered the circumstances in which an administrator’s reason for dismissal pre-transfer will come within the permitted ‘ETO’ permitted exception under TUPE. The case involved the ownership of Crystal Palace Football Club and the club’s stadium, Selhurst Park. The club had gone into administration …
Financial Services Bill receives Royal Assent
The Financial Services Bill received Royal Assent on 19 December 2012. The Bill has now become an Act of Parliament and will be known as the Financial Services Act. The new Act will come into force on 1 April 2013, and sets out a new regulatory framework for financial regulation in the UK. The Act provides regulators with comprehensive powers to counter future risks to financia…
Separate but legal
A draft bill promoted by the Scottish Law Commission aims to facilitate the execution in counterpart of contractual documents. Practitioners are encouraged to provide feedback If two parties have reduced their agreement to writing and wish to separately execute copies of the agreement, they can validly do so under the law of Scotland. Do you agree? Scottish practitioners ha…
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