'Dishonest' Norton Motorcycles ex-owner told to return £14m to pension funds

In a determination issued yesterday (24 June), Stuart Garner, as trustee of the schemes, was found to have "acted dishonestly and in breach of his duty of no conflict, his duty not to profit, and his duty to act with prudence". A complaint was brought against Garner by 30 members of three retirement funds whose entire funds under the schemes had been invested in preference share capital in Norton Motorcycle Holdings, of which Garner was the sole director and shareholder. The money had been transferred from the Dominator 2012 Pension Scheme, Donington MC Pension Scheme, and Commando 20...