Basic Search  |  Summaries  |  Advanced SearchPenalty: £255,500,000
Year: 2017
Date: 1 February, 2017
Offence Group: employment-related offences
Offence Type: benefit plan administrator violation
Violation Description: Coats Group agreed to pay £255.5 million to two pension schemes, and £74 million to a third pension scheme, in settlement of a Warning Notice by TPR alleging the company was liable for substantial deficits in the schemes, which would be left insufficiently resourced and with high levels of risk following Coats selling off its investment shareholdings and allocating the majority of benefit to shareholders.
Action Type: agency action
Settlement Type: Settlement with TPA
Agency: The Pensions Regulator
HQ Country of Parent: United Kingdom
Ownership Structure of Parent: publicly traded
Major Industry of Parent: miscellaneous manufacturing
Specific Industry of Parent: sewing supplies
Source of Data: (click here)