Waterford Crystal pension fraud case gets go-ahead

THE High Court has cleared the way for a former Waterford Crystal worker, who has alleged fraud by the company in the operation of its pension scheme in the 1990s, to proceed with claims that the Irish Pensions Trust fraudulently concealed his entitlement to seek a deferred pension when he was made redundant.

The decision has implications for more than 200 similar cases.

Thomas Croke has alleged fraud by Waterford Crystal in the operation of the company’s pension scheme in the 1990s. He has also alleged that the IPT, as trustee of the scheme, had certain duties to him when he was made redundant in 1992 but breached those.

He alleges the IPT had fraudulently concealed his options under the scheme, including his option of a deferred pension payable at age 65 at two thirds of his salary. He claims the only option put to him was to accept redundancy or reject it and be transferred to other work at Waterford Crystal for significantly lower pay.

In his judgment yesterday on a preliminary issue in the case, Mr Justice George Birmingham rejected the IPT’s application to prevent Mr Croke alleging fraudulent concealment by the IPT as part of his bid to defeat arguments by the IPT that the claim was statute barred — brought outside the legal time limits.

Mr Justice Birmigham ruled Mr Croke was entitled to rely on a provision of the statute of limitations which allows a plaintiff to argue he could not bring his case earlier because he was unaware of his right of action because of alleged acts of the defendants.