HIG caused quite a stir in the press in early May 2011 with several commenting on concerns of the Pensions Regulator and the Pension Protection Fund (PPF) after Slientnight was forced into insolvency leaving the pension scheme bound for the PPF. Speculation is rife that this demonstrates a loophole exists allowing private equity firms to rid themselves of costly defined benefit pension schemes - is the Pensions Regulator able to rely on its “moral hazard” powers to rebuff this and strike a better deal for the scheme?
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