Supreme Court allows late pension payments to be treated as ordinary bankruptcy assets under specific conditions.

The Supreme Court ruled that pension payments made late by a company facing insolvency could be treated as ordinary bankruptcy assets. The company had paid arrears to a pension fund while simultaneously being declared bankrupt, raising questions about the priority of these debts. The court determined that under the relevant bankruptcy law, such payments constituted ordinary claims rather than preferential ones, allowing them to be included in the general estate for distribution.