Shoosmiths has helped Konica Minolta Business Solutions (UK) Ltd overcome a potential obstacle, after the High Court decided the proposed rectification of its pension scheme would not contravene statutory preservation requirements.
The decision paves the way for Konica Minolta to proceed with its claim and is an important victory.
The judge decided that the benefits in question fell within the relevant statutory exception, and that rectification, if granted, would not fall foul of preservation rules.
The full case is reported at http://www.bailii.org/ew/cases/EWHC/Ch/2012/3741.html
Preservation legislation and its application are notoriously complex. Shoosmiths, having devised a strategy to deal with preservation and keep the rectification claim on track, was able to execute its implementation quickly and efficiently, culminating in an excellent outcome for Konica Minolta.
Shoosmiths' team was led by pensions litigation partner Jonathan Grigg and head of pensions David Thompson; with significant assistance from solicitor David Nessim; and support throughout from barrister Fenner Moeran (3 Stone Buildings), who appeared at the hearing as counsel for Konica Minolta.
Grigg said: "We are delighted with the outcome, particularly given the challenging and highly technical area of pensions law involved. We are now very hopeful of a positive result."
Konica Minolta HR director Merri Applegate said: "This is great news and we would like to thank Shoosmiths for all its help."
Grigg is a 'notable individual' for Pensions Litigation in the 2013 edition of legal directory Chambers UK, as is described as 'good at organising what needed to be done and had a good grasp of the negotiations'.
Commentators state that Thompson is 'thorough and quick to respond. He will always phone to explain complex documentation and what it means clearly. I value his technical competency combined with simple straightforwardness'.