High Court: Trustees cannot rely on PPF safety net

Lawyers said the case - Independent Trustee Services Limited v Hope and Others - had significant public policy implications and would affect the way in which trustees make decisions. Taylor Wessing partner Mark Smith represented Independent Trustee Services in the case. Smith said: "This case has significant implications for how trustees take decisions on key issues, such as how best to invest scheme assets. "It makes clear, for example, that trustees cannot decide to do something on the basis that if it all goes wrong, the PPF will pick up the pieces." ITS managing director Chr...