June 30 - Bonas - Raquel Agnello QC

The Determinations Panel of the Pensions Regulator has issued its first Contribution Notice in the case of the Bonas Pension Scheme under the Pensions Act 2004. The Belgian based company, Michel Van de Wiele N.V. was ordered to contribute in excess of £5 million towards the deficiency in the Bonas pension scheme by reason of its acts designed to avoid the pension liabilities by placing its UK based subsidiary into a pre-pack administration and buying the business but leaving behind the pension liabilities.  Raquel Agnello QC acted on behalf of the Pensions Regulator in this ground-breaking decision which is now being appealed to the Upper Tribunal.  

Raquel has been retained on a number of cases for the Pensions Regulator since she acted for them in 2007 in the case of Sea Containers, the first Financial Support Direction issued by the Determinations Panel.

Tom Robinson was also retained by the Pensions Regulator on an aspect of the Bonas case and is currently led by Raquel in two cases which remain confidential at this time.  Phil Hinks has also worked for the Pensions Regulator in what is turning out to be a very fast growing area of law.

A copy of the determination in the Bonas case is available at:

http://www.thepensionsregulator.gov.uk/docs/DN1682347.pdf



For more information concerning this case or to discuss the practices of Raquel, Tom or Phil, please contact the clerks on 020 7831 6381 or clerks@11sb.com.