A judgment creditor, applied for an order requiring Mr Brewster, his judgment debtor, to elect to draw down a lump sum from his pension in order to enable the judgment creditor to obtain a third party debt order against the pension trustees.
Held: Mr Moss granted an injunction under section 37(1) of the 1981 Act compelling Mr Brewster to delegate to the judgment creditor’s solicitor the power to elect to receive 25% of his pension as a lump sum, up to the amount needed to pay the balance of the judgment debt. ‘There appears to me to be a strong principle and policy of justice to the effect that non-bankrupt debtors should not be allowed to hide their assets in pension funds when they had a right to withdraw moneys needed to pay their creditors.’
Judges:
G Moss QC
Citations:
[2012] EWHC 165 (Ch), [2012] BPIR 476, [2012] Pens LR 203, [2012] WLR(D) 26, [2012] 1 WLR 2841
Links:
Statutes:
Jurisdiction:
England and Wales
Cited by:
Cited – Horton v Henry CA 7-Oct-2016
No obligation on bankrupt to draw on pension fund
The trustee in bankruptcy appealed against a decision dismissing his application for an income payments order pursuant to section 310 of the 1986 Act in respect of income which might become payable to the respondent from his personal pension . .
Lists of cited by and citing cases may be incomplete.
Insolvency
Updated: 23 October 2022; Ref: scu.451846