Payout to Maxwell pension trustees
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Three-quarters of the £276m earmarked to repay pension funds raided by the late Robert Maxwell was paid in cash yesterday to pension trustees, with the rest to follow shortly in the form of dividends from Maxwell companies operating under administration.
That makes official an agreement in principle reached last month between financial institutions and pension trustees, under which all claims against Maxwell companies and intermediaries will now be dropped. Mirror Group, which groups the newspaper interests of the former Maxwell empire, has delayed announcement of its annual results in order to calculate the effects of the settlement. MGN said in February that it would be able to release £100m from reserves it had set aside to cover liabilities arising from the pension claims.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments