Bankruptcy Of Allied Steel And Wire

EDM number 2348 in 2010-12, proposed by Jenny Willott on 01/11/2011.
Categorised under the topics of Insolvency, Manufacturing industries and Pensions.

That this House notes the bankruptcy of Allied Steel Wire (ASW) in 2002 and the deficits of its company pension schemes; recognises the dedicated campaign of John Benson, Denis Kelleher and others aimed at restoring the pensions of ASW members; welcomes the expert advice and support they have received from Dr Ros Altman; and calls on the Government to negotiate with insurers to investigate the unwinding of the annuities of existing ASW pensioners to release additional funds, examine the case for allowing ASW employees to restore their contracted-out rights through deemed buyback and examine the case for raising the indexation cap within the Financial Assistance Scheme to bring to a close the long-running financial insecurity of the former ASW employees.

This motion has been signed by a total of 14 MPs.