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Sequana: “Momentous” Judgment by Supreme Court on the Creditor Duty

The Supreme Court has ruled, for the first time, on the existence, specific content and engagement of the so-called “creditor duty” or the “rule in West Mercia”. In doing so, it unanimously dismissed BTI’s appeal....more

Smile Telecoms Restructuring Plan: English Court sanctions plan telling dissenting creditors to ‘stop shouting from the...

On 30 March 2022, the English High Court sanctioned a new restructuring plan for Smile Telecoms Holdings Limited (“Smile” or the “Company”) (the “Restructuring Plan”). The restructuring will result in the Company’s super...more

Smile Telecoms Restructuring Plan: Court grants convening application excluding “out of the money” creditor and shareholder...

On 12 January 2022, the English High Court granted Smile Telecoms Holdings Limited’s (“Smile” or the “Company”) application to convene a single meeting of plan creditors (the super senior creditors) to vote on the Company’s...more

Hurricane Energy Restructuring Plan: Court Declines to Sanction Plan Cramming Down Shareholders

On 28 June 2021, the English High Court handed down a judgment declining to sanction a restructuring plan proposed by Hurricane Energy PLC, which sought to cram down the dissenting class of shareholders and hand over the...more

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