Virgin Atlantic—first Part 26A restructuring plan convening hearing approved

Table of contents

• What was the background?
• Proposed timetable
• What did the court decide?
• Case details

Article summary

Restructuring & Insolvency analysis: This case analysis looks at the first ever court consideration of a new Part 26A restructuring plan (or Part 26A plan or Part 26A scheme) created by Corporate Insolvency and Governance Act 2020 (CIGA 2020). At the convening hearing, Mr Justice Trower approved the proposed timetable and convening of four classes of creditors to vote at the creditors’ meetings.