Legal News

High Court orders expedition to determine issues relating to a financial restructuring given insolvency alternative (McLaren Holdings Ltd v US Bank Trustees Ltd)

Published on: 04 September 2020
Published by: LexisPSL
  • High Court orders expedition to determine issues relating to a financial restructuring given insolvency alternative (McLaren Holdings Ltd v US Bank Trustees Ltd)
  • Background
  • Decision

Article summary

Restructuring & Insolvency analysis: The High Court has expedited a trial at which it would be determined whether luxury car manufacturer McLaren Group could obtain the release of certain security for the benefit of its senior noteholders, failing which a financial restructuring which was contingent on that release could not be implemented. The court concluded that, absent determination of the proceedings within one month, McLaren Group would have no choice but to enter an insolvency process and that this justified expedition in this case. Written by Natasha Johnson and Andrew Cooke of Herbert Smith Freehills. or take a trial to read the full analysis.

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