Commentary

239 Approval of scheme of arrangement by the court

COMPANIES vol 11 acquisitions, mergers, demergers
| Commentary

239 Approval of scheme of arrangement by the court

| Commentary

239 Approval of scheme of arrangement by the court

Originally, the court took a very restrictive view of the provisions of what is now Part 26 of the Companies Act 2006, generally regarding it as a residual provision to be resorted to only if a scheme submitted for its approval could not be carried out under any other provision of the companies or insolvency legislation1. Applying this rule strictly to company reorganisations would have made it impossible to carry them out by way of schemes of arrangement if their terms were such that they could be effected in

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