On 23 January 2024, the English Court of Appeal set aside the April 2023 order of the High Court sanctioning the English Part 26A restructuring plan (the “Plan”) proposed by AGPS BondCo plc (the “Plan Company”), a subsidiary...more
Following active opposition by HMRC, on 28 April 2023 the English High Court (Mr Justice Leech) refused to sanction a restructuring plan under Part 26A of the Companies Act 2006 between Nasmyth Group Limited (“Nasmyth”) and...more
HMRC has successfully opposed a restructuring plan (“Plan”) brought by The Great Annual Savings Company Limited (“GAS” or “the Company”) under which HMRC would have been crammed down as a dissenting creditor. The Court held...more
On 28 June 2022 the Insolvency Service published a report it had commissioned from RSM UK to assess the impact that CVAs were having on commercial landlords (the “Report”). The Report was commissioned in response to a number...more
Smile Telecoms, which last year implemented the first restructuring plan for a cross-border African business, has now achieved another first by using section 901C(4) of the Companies Act 2006 to exclude all bar one class from...more
The recent English case Arlington Infrastructure Ltd (in administration) and another v Woolrych and others demonstrates the importance of a secured creditor obtaining any consent necessary under the terms of intercreditor...more
On 19 September 2019, Norris J handed down judgment in the challenge brought by six landlords against the Debenhams Retail Limited (Debenhams) company voluntary arrangement (CVA) which was approved by 94.71% of Debenham’s...more
9/20/2019
/ Commercial Bankruptcy ,
Creditors ,
CVAs (Company Voluntary Arrangements) ,
Debt ,
Debt Restructuring ,
Fairness Standard ,
Forfeiture ,
Insolvency ,
Jurisdiction ,
Landlords ,
Liquidation ,
Plan of Arrangement ,
Retail Market ,
Retailers ,
UK ,
UK Insolvency Act ,
Unfair Prejudice ,
Variation Clauses