- Scheme of arrangement jurisdiction—providing for a sufficient connection
- Original news
- What jurisdictional issues were involved?
- What structural changes were made to the Spanish group/debt structure prior to the application for the scheme?
- Which factors did the judge rely on for creating a sufficient connection with England?
- What comments did the judges at the convening and sanctioning hearings make on good/bad forum shopping?
- What consideration was given as to the alternatives to a scheme?
- What was the new group structure (in summary) post-restructuring?
- Was the English scheme conditional on getting Chapter 15 recognition?
- What are the practical lessons for practitioners involved in restructuring foreign companies and businesses?
Restructuring & Insolvency analysis: A scheme binding creditors of Spanish finance group Codere, sanctioned in the High Court on 17 December 2015, was followed up by a Chapter 15 recognition order by the US courts. Martin Ouwehand, barrister at Radcliffe Chambers, explores the issues in Re Codere Finance (UK) Ltd.
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