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Pensions and insolvency: Horton v Henry [2016] EWCA Civ 989
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Recent years have seen a number of decisions on the interpretation of s 310 of the Insolvency Act 1986 (IA) and s 11 of the Welfare Reform and Pensions Act 1999 (WRPA).
Section 310 IA provides for Income Payment Orders (IPOs). It allows the court to make an IPO claiming for a bankrupt’s estate so much of the income of the bankrupt during the period for which it is in force as it may specify. Section 310(7) IA provides that the ‘income of the bankrupt’ comprises every payment in the nature of income which is from time to time made to him or to which he from time to time becomes entitled. Section 11 WRPA deals with the effect of bankruptcy on pension rights. It provides that where a bankruptcy order is made any rights from an approved pension arrangement are excluded from the bankrupt’s estate. However in making an IPO s 310(7) IA includes in the income of the bankrupt any payments under a pension scheme (save as excluded by s 310(8) IA) and is expressed as being despite anything in s 11 WRPA.
Until...
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