Mathesons Pensions Team Highly Commended By The Financial Times For Its Work On Element Six Case
Matheson has been "highly commended" by the Financial Times 2014 Innovative Lawyers Awards as one of Europe's most innovative law firms in dispute resolution. Matheson was the only Irish law firm to be commended in this category.
Matheson was highly commended for setting "a market precedent for duties and liabilities of trustees in Ireland" in the Commercial Court case, Greene & Ors v Coady & Ors - "the Element Six case." Matheson was also separately commended for co-ordinating a complex "multi-jurisdictional, multi-party dispute, gaining a favourable settlement for a banking client."
Brian Buggy, head of Matheson's Pensions and Benefits Law group led the Matheson team advising on the Element Six case, which included partners Deirdre Cummins and Michael Byrne. Brian Buggy said: "We are delighted to have been highly commended for our work on this important case. This commendation reflects the innovative and client-focused approach we take in order to achieve the best possible results for our clients."
In the Element Six case Matheson represented the trustees of the Element Six Contributory Pension Plan in successfully defending a claim taken against them by 128 members of the Plan for alleged breach of duty.
This landmark High Court decision provides clarity on the duties of pension scheme trustees and the role of the court in examining trustees' decision-making processes. It also offers useful commentary on a range of ancillary issues, including contribution demands, conflicts of interest issues and the nature of funding proposals.
Mr Justice Charleton found in favour of the trustees in a detailed written judgment, fully accepting their evidence and the case put forward in their defence. He held that the trustees had at all times acted...
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