UK: England and Wales: financial support directions - an expense of administration/liquidation

The ICLR, as part of its WLR Daily service, has published a summary for Bloom v The Pensions Regulator (Nortel, Re) [2010] EWHC 3010 (Ch): see here. The summary's headnote reads: "Liabilities arising from the financial support direction (“FSD”) regime created by the Pensions Act 2004 upon companies in administration or liquidation were payable as a liquidation or administration expense". For further background information see here.