People

Camilla advises both trustees of occupational pension schemes and corporate groups on all aspects of pensions practice, including benefit issues, scheme documents, regulatory compliance, contingent assets and funding issues, and pension issues in the context of corporate restructurings and transactions. Camilla has particular experience of advising on liability management, buy-outs and other risk transfers. She has also advised on transfers to the Pension Protection Fund.

She has advised on proceedings in the High Court and in front of the Pensions Ombudsman and the Pensions Regulator.

Recent work includes advising:

• the trustees of a hybrid pension scheme on negotiating scheme funding, including agreeing security over real estate assets during Chapter 11 proceedings relating to the employer's parent, advising on the termination of benefit accrual and a liability management exercise, and later responding to the employer's failure to make payments under the schedule of contributions and agreeing a further recovery plan;
• Textron Inc., the US-based global engineering company, on restructuring the liabilities of the David Brown Pension Plan as part of its disposal of its trans-national Fluid & Power businesses, including a de-merger, a reallocation of the section 75 liabilities of £100m, clearance from the Pensions Regulator and agreement over associated funding and contingent assets;
• Airborne Systems Limited on an enhanced transfer value exercise and the buy-out of remaining liabilities;
• e.on UK Plc on the pensions aspects of a cross-border reorganisation including the establishment of a cross-border pension scheme;
• Allied Domecq (Holdings) Limited in respect of a merger of two of its defined benefit pension schemes and reallocation of section 75 contingent liabilities;
• pension aspects of a refinancing of a major software provider; and
• changes to participating employers and reallocation of section 75 liabilities in the context of a business disposal and pre-sale reorganisation.