| Commentary

228 Introduction

| Commentary

C: REORGANISING A COMPANY IN A VOLUNTARY WINDING-UP (INSOLVENCY ACT 1986 SECTION 110)

228 Introduction

A consensual company reorganisation may be blocked by either a dissenting member, or a dissenting creditor whose debt is not capable of immediate repayment. If shareholders holding at least 75% of the shares in the original company are in favour of the reorganisation, one solution may be for those shareholders to put the company into a voluntary winding up1 and then use the procedure set out in Section 110 of the Insolvency Act 1986. This may not be a complete solution as dissenting

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to LexisLibrary or register for a free trial