If bmi was effectively "bust", why weren't all of its assets sold off by auction, and the funds used to pay off its liabilities
It was auctioned off, IAG won and has taken on BMI's liabilities
except the pension fund which LH agreed would remain with them for them to administer.
The question is how LH can then make a token payment and dump the scheme onto the PPF, walk away, leaving the scheme members (and every other UK pension fund (who contribute to the PPF)) to pick up the bill.
It's quite astonishing and disgusting in equal measures.
