- DeepOcean—Part 26A restructuring plans approved
- What was the background?
- What did the court decide at the convening hearing?
- What did the court decide at the sanction hearing?
- Case details
Restructuring & Insolvency analysis: This News Analysis looks at the court’s consideration of Part 26A restructuring plans (or Part 26A plans or Part 26A schemes) introduced by the Corporate Insolvency and Governance Act 2020 for the DeepOcean Group. At the earlier convening hearing in December, Mr Justice Trower allowed the convening of creditor meetings for the three plan companies. At the sanction hearing, Trower J approved the proposed restructuring plans for the three plan companies, allowing cross class cram down (CCCD) in respect of the DeepOcean Subsea Cables Ltd plan.
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