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Former Norton CEO Ordered To Pay Back Millions


Former Norton CEO Ordered To Pay Back Millions
Former Norton CEO Ordered To Pay Back Millions
Norton Motorcycles had since gone into administration and was acquired by India s TVS Motor Company in April 2020.
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Highlights
Stuart Garner is now pushed again to the brink of personal bankruptcy
TVS Motor Company now owns Britain s Norton Motorcycles
Stuart Garner, the former owner of British motorcycle brand Norton Motorcycles, has been ordered to pay back 14 million GBP missing from the company s employee retirement fund. Garner was refused permission by a court to appeal against a pension ombudsman s ruling. The ombudsman s decision was the result of an investigation triggered by claims of 30 members of retirement funds Garner controlled as trustee. The 30 members complained that Garner had repeatedly failed to return their funds when they were due. The UK Pensions Schemes Act requires trustees to transfer pensions within six months o ....

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