Steve Brichieri-Colombi went to the High Court in the Rolls Building, Chancery Lane, London, with Malcolm Bennett on Monday, and asked the Court to satisfy itself that the concerns raised by the HPS and the Pensions Regulator over the position of the HPS deficit were properly addressed in the Scheme Arrangement proposed by Halcrow. The judge heard the submission and advised he would issue a decision on Thursday.
The Outcome of the Court Hearing:
Although the judge agreed that the pensioners had a just case he did not think it strong enough to delay the sale. However, the submission to the Court has ensured that the size of the deficit and the promises for future funding by CH2M Hill are more clearly on the record.