Ouch, that sounds like a lot of money. A Pensions Ombudsman in England has found that Stuart Garner “acted dishonestly and in breach of his duty” as a pension scheme trustee, and has been told to pay back all those who lost money when Norton went under. Which raises the question, where’s Garner going to find £11m? And what happens if he can’t?

India’s TVS Motor bought Norton out of receivership in April for a reported £16 million (about $20 million), when its debt was reportedly around £28m.

There’s more here, at BBC News.

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