Corporate Insolvency and Governance Act 2020—restructuring plan
Corporate Insolvency and Governance Act 2020—restructuring plan

The following Restructuring & Insolvency precedent provides comprehensive and up to date legal information covering:

  • Corporate Insolvency and Governance Act 2020—restructuring plan
  • 1 Definitions and Interpretation
  • 2 Application of the Restructuring Plan
  • 3 Proceedings by Creditors/Members
  • 4 Interest
  • 5 Currency of Payment
  • 6 Notice of Effective Date and Claim Deadline
  • 7 Submission of Claims
  • 8 Determination of Agreed Claims
  • 9 Dispute Procedure
  • More...

(pursuant to part 26A of the companies act 2006)

between

[insert name of company]

and its

Creditors/Members

(as defined in the Restructuring Plan)

Dated [insert date]

    1. 1

      Definitions and Interpretation

      In the Restructuring Plan, unless the context otherwise requires or otherwise expressly provides, the following definitions apply:

      Act

      1. means the Companies Act 2006 of Great Britain;

      Admissible Interest

      1. means any interest provided for in a contract or any relevant statute or any other relevant law or judgment;

      Admitted Claim

      1. means the balance, if any, calculated as remaining due from the Company to a Creditor/Member pursuant to clause 10.1 following the application of set-off pursuant to clause 11.1;

      Agreed Claim

      1. means the amount determined as being due from the Company in respect of a Creditor’s/Member’s Claim pursuant to clause 8;

      Available Distributable Amount

      1. means the amount available for payment by the Company to its Creditors/Members pursuant to clause 13;

      Board

      1. means the board of directors of the Company from time to time;

      Business Day

      1. means any day other than Saturday, Sunday or any other day on which banks in the City of London are not open for business;

      Claim

      1. means any claim against the Company in respect of a Liability (not being an Excluded Liability) to which the Company is subject at the Effective Date or to which it may become subject after the Effective Date by reason of an obligation incurred before that date including any claim

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