The High Court has blocked three pension ‘unlocking' companies moving more than £1m worth of assets abroad over fears pensioners could lose their money in the risky schemes.
Court papers show a High Court ruling dated 17 June blocked three entities - Ark Business Consulting, Ark Commercial Pension Planning and Ark Commercial Retirement Planning - from moving up to £1.1m from England and Wales. The Pensions Regulator appointed Dalriada Trustees to look after a number of schemes which were previously administered by Ark Commercial Retirement Planning. The independent trustee firm instructed law firm McGrigors, which secured the freezing injunction. It said Ark Business Consulting was closely associated with the development of pension 'unlocking' or 'pension...
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