James Walmsley

Pensions CV

James has already built extensive experience in pensions matters, of both an advisory and adversarial nature, both led and on his own account. Before starting in practice he sat as a pupil with, amongst others, Paul Newman QC, Emily Campbell and Jonathan Evans. Before coming to the Bar James gained a range of business, corporate financial, and public policy experience that sets him good stead to deal with both the commercial and regulatory aspects of pensions matters. He has a first class degree in mathematics and philosophy from Oxford University (top in year) and actuaries don't scare him. He also is a trustee of a small pension scheme, so he well understands and empathises with the issues that can be faced by trustees. Selected highlights of his experience are:

• The PNPF Trust Company Ltd v Taylor & Ors [2010] EWHC 1573 (Ch). Acting at both first instance and on appeal (with Paul Newman QC) for Milford Haven Port Authority in this high-profile litigation involving a complex multi-employer scheme (referred to in The Lawyer as one of the hot cases of 2010). The proceedings raised several questions including questions relating to the scope of the power of amendment under the scheme and how the regime under Part 3 of the Pensions Act 2004 interacts with scheme rules.
  
  
• The EMI Fund. Acting (with Michael Tennet QC) for the Pensions Regulator in what would have been the first hearing before the Determinations Panel in respect of the Regulator's powers to impose a schedule of contributions under section 231 of the Pensions Act 2004. The case raised issues of general importance relating to the position of employers purchased by private equity investors. However, the Trustees and Employer reached an agreement shortly before the scheduled hearing.
  
  
• Nortel. Advising (with Paul Newman QC) the US entities in the large-scale UK pensions regulatory proceedings relating to the Nortel pension scheme.
  
  
• Advising the Pensions Regulator (including with Michael Tennet QC, Paul Newman QC, and Christopher Tidmarsh QC (the latter of 5 Stone Buildings)) in numerous matters relating to the exercise of its moral hazard powers to issue contribution notices and financial support directions. This work often includes both an international and insolvency dimension.
  
  
• Advising pension scheme trustees in respect of numerous issues, including the appropriate modification of the scheme to reflect equalisation in the light of Foster Wheeler, the proper construction of trustee appointment/removal clauses, and how to handle situations where a scheme has been operated for an extended period on a basis subsequently called into question.
  
  
• Acting for trustees and an employer in respect of a professional negligence claim against legal advisors who gave negligent advice in respect of amendments to a pension scheme.
  
  
• Acting for the vendor of a company in a dispute over how the clause allocating liabilities is to be construed in respect of a deficit repair liability that is imposed after the sale but is referable to pensionable service accrued prior to the sale.
  
  
• Advising individuals and groups of individuals in respect of potential mis-selling claims and claims derived from complaints about the conduct the employer. Many of these claims include issues relating to the Financial Services Compensation Scheme, limitation, and the assessment of loss.
  
  
• Advising and acting on matters connected with the Pensions Ombudsman, including jurisdictional matters. For example, James successfully struck out a claim brought in the County Court after a related complaint had already been made to the Pensions Ombudsman.