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International Restructuring Newswire
Welcome to the Q4 2024 edition of the Norton Rose Fulbright International Restructuring Newswire.
United Kingdom | Publication | October 2024
The Pensions Ombudsman, Dominic Harris, has published a blog on the progress he is making with the Operating Model Review (OMR).
One of the principle aims of the OMR is to speed up the resolution of complaints received by making decisions quicker. Over summer 2024, the Pensions Ombudsman trialled expedited decision-making to compare how quickly resolutions could be decided in comparison to the current system.
Expedited decision-making process
The expedited decision-making process works as follows:
Benefits of the trialled system
This new system is designed to improve customer service and support, and to provide complainants with a resolution as soon as possible. The Determination process has been modelled on summary judgment used by courts. These are interim applications which, if successful, bring a case to an early close.
It is expected that using this system could reduce the waiting time for complainants by as much as 18 months. This comes at a fortuitous time for the Pensions Ombudsman, when the volume of incoming complaints is currently 24 per cent higher than forecast. It will therefore be crucial to find new ways, such as the OMR, to speed up the case review process.
Publication
Welcome to the Q4 2024 edition of the Norton Rose Fulbright International Restructuring Newswire.
Publication
The European Union’s Foreign Subsidies Regulation (the FSR) aims to combat distortions of competition on the EU internal market caused by “foreign” – meaning non-EU – subsidies.
Publication
On 2024 an independent expert panel (Panel) published its report (Report) setting out detailed proposals for a UK corporate re-domiciliation regime. This follows on from broadly supportive responses to an earlier government consultation on the topic.
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