Restructuring

Restructuring guidance:

The range of funding options open to companies has exploded, resulting in a vast array of different capital and security structures. Before the 2007/8 credit crunch, it...

Practice Note

The table below compares the features and benefits of a scheme of arrangement (see: Schemes of arrangement—overview) with two alternate processes available in England and...

Practice Note

Brexit impact As of exit day (31 January 2020) the UK is no longer an EU Member State. However, in accordance with the Withdrawal Agreement, the UK has entered an...

Practice Note

A popular restructuring method is a debt for equity swap; financial creditors receive equity in the restructured vehicle in return for reducing or cancelling their debt...

Practice Note

DateAction From 98 days before the directions hearingDraft scheme of arrangement, explanatory statement, and proxy form (see Precedents: SCHEME OF ARRANGEMENT,...

Precedents

This Practice Note covers: • what arrangements under Insolvency Act 1986 (IA 1986), s 110 (a s 110 arrangement) is (see: What is a s 110 arrangement?) • the rationale for...

Practice Note

When restructuring is considered rather than formal insolvency proceedings (see Practice Note: Benefits of restructuring over formal proceedings) the company may want to...

Practice Note

What is a rescue buyout? A company or a business in a rescue situation is one that is in potential financial difficulties, either because it finds itself: • unable to pay...

Practice Note

A AdministrationAn insolvency process whereby an insolvency practitioner is appointed with the aim of achieving one of the statutory objectives, where the administrator...

Practice Note

Once a company starts showing signs of distress, its directors must act quickly if they want to complete a successful restructuring. The timing of the process varies from...

Practice Note

Initial steps Whether you are acting for the debtor, creditor, potential purchaser or shareholder and regardless of which jurisdiction the restructuring takes place in...

Practice Note

This Practice Note looks at the general principles involved in determining class issues. For a more detailed look at what may or may not fracture a class, see Checklist:...

Practice Note

Brexit impact As of exit day (31 January 2020) the UK is no longer an EU Member State. However, in accordance with the Withdrawal Agreement, the UK has entered an...

Practice Note

Produced with input from Rebecca Cousin of Slaughter and May on market practice. This Practice Note explains the nature of a scheme of arrangement in a takeover context,...

Practice Note

Produced with input from Rebecca Cousin of Slaughter and May on market practice. This Practice Note looks at the detailed procedures to be followed to implement the...

Practice Note

Schemes of arrangement—definition and basis in statute A scheme of arrangement is a court-sanctioned compromise between a company and its creditors or members. The...

Practice Note

A popular restructuring method is to transfer the company's assets or business to a newly formed company (Newco). Essentially the good assets and business(es) are...

Practice Note