The Pension Protection Fund approach to CVAs
Given the on-going debate around the use of CVAs ReSolve is especially pleased to be able to present ‘The Pension Protection Fund Approach to Company Voluntary Arrangements’ which has been written for us by Malcolm Weir, Director of Restructuring and Insolvency at the Pension Protection Fund:
The first decade of the 21st century saw a rapid rise in the use of pre-packaged administrations (pre-packs) to deal with restructuring issues. They presented a risk of ‘pensions dumping’ which we, the Pension Protection Fund (PPF), working in close cooperation with the Pensions Regulator (TPR), continue to seek to avoid. The PPF’s guidance, together with the Graham reforms, in the main, addressed the issue.