Michael Howlin QC: Trustee’s successful petition for directions
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Michael Howlin
In a new article, Terra Firma’s Michael Howlin QC considers the recent case of Plumbing Pensions (UK) Limited, Petitioner [2022] CSIH 9, which turned on the manner in which the corporate trustee of a large pension scheme dealt with Section 75 of the Pensions Act 1995 and whether that impacted the availability of an indemnity which the scheme’s rules conferred on the trustee.
Reading between the lines, a key takeaway from the case is a reminder that the scope of a trustee’s indemnity depends not only on the wording of the clause in question but also on an important body of case law.
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