Part 26A restructuring plan Practice Statement Letter (PSL)
Published by a LexisNexis Restructuring & Insolvency expert
PrecedentsPart 26A restructuring plan Practice Statement Letter (PSL)
Published by a LexisNexis Restructuring & Insolvency expert
Precedents
IMPORTANT Notice FROM [insert name of Company]
THIS LETTER REQUIRES YOUR IMMEDIATE AND URGENT ATTENTION. IT CONCERNS A RESTRUCTURING PLAN PROPOSED BY [insert name of Company] PURSUANT TO PART 26A OF THE COMPANIES ACT 2006 WHICH MAY AFFECT YOUR LEGAL RIGHTS AND ENTITLEMENTS AND YOU MAY THEREFORE WISH TO TAKE APPROPRIATE LEGAL AND OTHER PROFESSIONAL ADVICE ON ITS CONTENTS.
THE PROPOSED RESTRUCTURING PLAN APPLICATION WILL BE CONSIDERED BY THE HIGH COURT OF ENGLAND AND WALES AT A CONVENING HEARING WHICH IS EXPECTED TO TAKE PLACE ON [insert date of convening hearing] IN, [insert location eg London] UNITED KINGDOM.
SPECIFIC DETAILS OF THE CONVENING HEARING (INCLUDING CONFIRMATION OF THE TIME) WILL BE PROVIDED TO ALL CREDITORS/MEMBERS (AS DEFINED BELOW) BY A SEPARATE NOTICE IN ADVANCE OF THE CONVENING HEARING. [CREDITORS/MEMBERS WILL ALSO BE ABLE TO ACCESS AND DOWNLOAD THE NOTICE AT THE FOLLOWING WEBSITE: [insert website details].]
YOU ARE BEING CONTACTED AS [insert company name] BELIEVES YOU ARE A CREDITOR/MEMBER AND WILL THEREFORE BE AFFECTED BY THE PROPOSED RESTRUCTURING PLAN.
To: The Creditors/Members (as defined
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Jurisdiction(s):
United Kingdom
Related legal acts:
Key definition:
Part 26A restructuring plan definition
What does Part 26A restructuring plan mean?
Or restructuring plan; a restructuring plan proposed under Part 26A of the Comapnies Act 2006, created by CIGA 2000 similar in many ways to schemes but subject to CCCD and having no numerosity requirement. For a class to vote in favour, 75% of a class by value must agree to the plan.
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