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First Ruling of Section 342A of the Insolvency Act


First Ruling of Section 342A of the Insolvency Act

Mark Raeside QC presided over four separate days in the High Court last week as Section 342A of the Insolvency Act was finally ruled upon, directing what constitutes an excessive contribution to a pension scheme which can be set aside by a trustee in bankruptcy.

The statute came into force in 2000, however, it has never been litigated upon. The law is now clarified, although the case cannot be fully reported pending further hearing on restorative relief in September 2016.

We are planning to host free of charge seminars on the topic of pensions and insolvency, to be given by the QC who handled the trial. Please click here should you wish to register your interest.

If you are contemplating similar claims and would welcome direction on the ruling ahead of the full judgment, please do not hesitate to contact me


About the author

Paul Stanley

Regional Managing Partner

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Paul qualified as a chartered accountant in 1987 with Arthur Andersen an international accounting practice. He worked on audits, management consultancy and buy out due diligence before specialising in insolvency and investigations. In 1990 he was granted an insolvency licence by ICAEW.

He worked on the Robert Maxwell private company administrations in the Middle East in the early nineties and developed strong banking relationships. In 1993 he joined up again with ex-Andersen's colleague Ric Traynor as Ric's first partner in the firm which later changed its name to Begbies Traynor. Paul acts as managing partner in the Manchester office and sits on both the firm's management and technical committees. He has a reputation as a straight-talking, honest advisor who is both technically strong and commercial.

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