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BANKRUPTCY OF ALLIED STEEL AND WIRE

EDM (Early Day Motion) 2348: tabled on 01 November 2011

Tabled in the 2010-12 session.

This motion has been signed by 14 Members. It has not yet had any amendments submitted.

As this motion is using historical data, we may not have the record of the original ordering, in which case signatories are listed alphabetically.

Motion text

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.