How far-reaching are schemes of arrangement?

Table of contents

• Original news
• How did the issues arise?
• What guidance was given on the interpretation of schemes generally?
• What guidance was given on the meaning of claims arising from an obligation incurred before the effective date of the scheme?
• Did the scheme bind the five categories of claim (CCA claims, non-PPI liabilities, overpayment claims, uncashed cheques claims, charges claims)?
• What does this mean in practice for those drafting schemes of arrangements?

Article summary

Restructuring & Insolvency analysis: What impact might the ruling in Re Welcome Financial Services have on the construction of schemes of arrangement? Barry Isaacs QC, a barrister at South Square, discusses the ruling and its significance for those drafting schemes of arrangement.