Legal News

Virgin Atlantic—first ever Part 26A restructuring plan receives approval at sanction hearing

Published on: 02 September 2020
Published by: LexisPSL
  • Virgin Atlantic—first ever Part 26A restructuring plan receives approval at sanction hearing
  • What was the background?
  • Plan timetable
  • What did the court decide?
  • Case details

Article summary

Restructuring & Insolvency analysis: This case analysis looks at the first ever sanction hearing for a new Part 26A restructuring plan (or Part 26A plan or Part 26A scheme) created by the Corporate Insolvency and Governance Act 2020 (CIGA 2020). At the earlier convening hearing, Mr Justice Trower approved the convening of four classes of creditors to vote at the creditors’ meetings. The restructuring plan was subsequently approved at the four creditors’ meetings and finally sanctioned by Mr Justice Snowden today. or take a trial to read the full analysis.

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