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INSOLVENCY: At the end of the rainbow

05 June 2015  

Rebecca Andrews-Walker and Alex Fox investigate the strained relationship between insolvency and pension assets

In a challenging economy, bankruptcy increasingly stands accused of constituting a mechanism for debtors to escape their responsibilities at their creditors’ expense. It understandably remains a live debate as to whether a bankrupt should be afforded the means of a protected pot of money for their future use while their creditors are left unrecompensed for their loss. The debate is not new, but the balance has perhaps shifted in a climate where creditor losses are felt particularly keenly. Should a bankrupt be permitted to retain their pension pot for whatever use they see fit, or should it be utilised to soften the blow within the bankruptcy estate?

Additional Info

  • Case(s) Referenced:

    Horton v Henry [2014] EWHC 4209 (Ch)

    Re Landau [1998] Ch 223

    Raithatha v Williamson [2012] EWHC 909 (Ch)

    Re X (Application for Income Payments Order) [2014] BPIR 1081