Tag Archives: Scheme of arrangement

English Scheme of Arrangement approved for Luxembourg-registered company

The English High Court has sanctioned a scheme of arrangement for Algeco Scotsman PIK SA, a Luxembourg-incorporated company, after the creditors consented to the New York governing law and jurisdiction clause being altered in favour of the jurisdiction of the English courts. The issues discussed were: the fair representation of a class of creditors; cross-jurisdictional schemes; and early tender fees offered … Continue Reading

Schemes of Arrangement: Share-splitting unsuccessful in blocking a takeover scheme

In a corporate world where the capital structures of companies are becoming increasingly complex, schemes of arrangements under the Companies Act 2006 have established themselves as the restructuring procedure of choice for many distressed companies. This popularity is evidenced by the fact that schemes of arrangement have been increasingly used by overseas companies wishing to restructure their … Continue Reading

English Court Considers How Much Connection is Sufficient?

The English High Court has again considered whether by itself the choice of English law and court jurisdiction in legal documentation establishes a “sufficient connection” with England to enable a foreign company to avail itself of an English scheme of arrangement. Background It has become increasingly popular for foreign companies to utilise an English scheme … Continue Reading

Reorganization by Foreign Debtors in the US and UK

Nava Hazan and Susan Kelly have written for the October newsletter of the American Bankruptcy Institute’s Business Reorganization committee about how the UK and US have become the two main jurisdictions where debtors outside of such jurisdictions (foreign debtors) have been able to successfully restructure their businesses, due to the flexibility of the UK and … Continue Reading
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