The Court of Appeal has reversed the sanction of the Petrofac group’s restructuring plans and allowed the appeal of two dissenting unsecured creditors.Re Petrofac Limited and Petrofac International (UAE) LLC [2025] EWCA Civ...more
7/8/2025
/ Appeals ,
Bankruptcy Court ,
Chapter 11 ,
Commercial Bankruptcy ,
Companies Act ,
Corporate Restructuring ,
Creditors ,
Debt Restructuring ,
Insolvency ,
Joint Venture ,
Reversal ,
Secured Debt ,
UK ,
Unsecured Debt
The decision represents the first appellate-level ruling on the Part 26A regime.
On 23 January 2024, the Court of Appeal set aside the sanction of the Adler restructuring plan (RP) in the first appellate-level decision on...more
2/1/2024
/ Cramdown ,
Creditors ,
Debt Restructuring ,
Insolvency ,
Jurisdiction ,
Lenders ,
Liquidation ,
Pari Passu ,
Priority Debt ,
Restructuring ,
Shareholders ,
UK
The decision confirms that company voluntary arrangements remain a flexible tool for restructuring leasehold portfolios.
Key Points:
The judge rejected each of the landlords’ arguments, confirming that:
..A CVA...more