The following Restructuring & Insolvency precedent Produced in partnership with Tim Cooper and Matthew Finnie of Addleshaw Goddard LLP provides comprehensive and up to date legal information covering:
Clause 3.5: replace 2nd sentence with ‘The Proposal, if accepted, is likely to result in a total Dividend of [insert amount, less than 100] pence in the pound to Creditors’.
Clause 3.5: add new 4th sentence ‘The returns to Creditors would be significantly lower if the Company is placed into liquidation than if the CVA is approved.’
Clause 3.5: replace 5th sentence with ‘The Arrangement is to be a scheme of arrangement whereby full payment of Debts is waived.’
Clause 4.4.2: replace 1st sentence with: ‘The amount of the monthly instalments shall be the Supervisor’s estimate
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