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Legal News

Pensions Ombudsman orders former director of trustee company to pay £9.7m to two pension schemes (Dalriada Trustees (PO-16266))

Published on: 20 December 2024

Table of contents

  • Background
  • What did the PO determine?
  • What are the implications of the determination—including for pension schemes and advisers?

Article summary

Pensions analysis: The Pensions Ombudsman (PO) has upheld a complaint brought by Dalriada Trustees Ltd (Dalriada) and others of multiple instances of breach of trust and maladministration against Ecroignard Trustees Ltd (Ecroignard) and a Mr Shroff, a former director of that company. Ecroignard has been wound up—although its ultimate dissolution has been suspended until 2028. Written by Paul Carney, a partner at Shoosmiths LLP.

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