Save the Wedgwood Collection

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Save the Wedgwood Collection

Post by Carstens on Fri Feb 25, 2011 1:53 pm

Campaign to Save the Wedgwood Museum, The Award Winning Museum in Stoke-upon-Trent is at risk of forced sale and dispersal.

"The Wedgwood Museum Predicament

The award winning Wedgwood Museum Collection in Stoke on Trent is now facing the threat of forced sale to pay for the £134 million pension liability of the Wedgwood Group Pension Fund which arose from the insolvency of Waterford Wedgwood in 2009.

Legislation introduced initially in 2005 and amended in April 2008 has led to the museum entering into administration and legally defending the position of its collection as one that is held in a Trust and therefore a Permanent Functional Endowment. The new law had the laudable objective of preventing companies from fraudulent transference and misuse of pension funds. It was not intended to cause the break up of nationally important, unique historical and cultural collections.

The Museum and its collection are being held responsible for the £134 million deficit of the Wedgwood Group Pension Fund simply because five of the museum's staff are among the Pension Fund’s 7,000 members. The Museum is still fully open pending direction from a Judge to the Administrator to determine whether the prize winning collection can be sold off to pay the pension creditors. The government instituted organisation responsible for ensuring a statutory minimum pension when companies become insolvent is the Pension Protection Fund - who are the primary creditors in this case. Even if the whole collection is sold it would not meet even half the pension debt and ex employees would not receive any more pension income." use this link to sign up to the petition, every signature counts, this section is active to visitors to the forum. just open a post a reply, enter your message, give your name, enter a security code, and post.

Last edited by Carstens on Fri Feb 25, 2011 2:29 pm; edited 1 time in total

Number of posts : 872
Registration date : 2008-06-27

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Re: Save the Wedgwood Collection

Post by Pottymad on Fri Feb 25, 2011 2:27 pm

I have signed the Petition, i would be a national tragedy if this collection was split up


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