Charles advises sponsors, trustees and insurers on corporate pension plans. His experience ranges from pension plan restructuring driven by M&A or insolvency, to funding and covenant negotiations on change of control, to plan closures.
Corporate pension plans combine uniquely the features of reputation sensitivity and financial risk in a legal context which is complex, highly regulated and where the positions of trustees, sponsors, shareholders, employers, unions, regulators and politicians need reconciling. Charles has a lot of experience in doing so, and in leading or being part of the multi-disciplinary adviser teams necessary, sourced from our financing, insurance, tax and dispute resolution groups.
- Fortress – advised Oppidum Bidco Limited (Bidco), a company indirectly owned by funds managed or advised by affiliates of Fortress Investment Group, LLC, on its cash offer for Wm Morrison Supermarkets PLC announced on 3 July 2021, and the package of measures to support the Morrisons Pension Schemes to buyout agreed in principle with the trustees.
- INEOS Grangemouth – advised INEOS on the closure of its defined benefit pension plan at a site where Unite were the recognised trade union
- GKN – advised GKN plc on its defence against the hostile bid by Melrose Industries
- British Steel Pension Scheme – advised Tata Steel India and Tata Steel UK on the restructuring of the £12 billion BSPS, the biggest pension scheme restructuring in the UK
- Asda Pension Scheme – advised Walmart Inc. on its £3.8 billion buy-out with Rothesay Life
- USS – provided to the USS Trustee Board an independent report covering the conduct of Professor Jane Hutton, a former director of the USS Trustee Board
Charles is a past Chairman of the Legislative & Parliamentary Sub-Committee of the Association of Pension Lawyers, and is a contributor to Weinberg & Blank on Takeovers and Mergers.
Chambers 2020: Client quotes: "Charles Cameron is enormously competent and has a brilliant strategic brain,” remark sources, who further praise his “consistently high-quality service and advice.” He offers notable experience advising on complex de-risking and benefit change matters as well as pension scheme aspects of corporate transactions.
Charles Cameron is a leading figure for high-value derisking exercises
Client quotes: “Charles Cameron is the best I have ever worked with. His advice shows deep strategic thinking, a total understanding of pension law. When and how to bring other practices and how to co-ordinate the advice to develop an overall solution."