Schemes of arrangement

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A popular restructuring method is a debt for equity swap; financial creditors receive equity in the restructured vehicle in return for reducing or...
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9th Nov
Practice notes
The Insolvency (England and Wales) Rules 2016, SI 2016/1024 (IR 2016) provide for a revised scheme for decision making in insolvency from 6 April...
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Produced in partnership with Richard Bowles 12th Jan
Practice notes
DisclaimerUnder sections 178 and 315 of the Insolvency Act 1986 (IA 1986), a liquidator or a trustee in bankruptcy (trustee) has the power to disclaim...
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9th Nov
Practice notes
One of the initial signs of distress is usually a covenant breach by the company. The lenders may agree to a simple waiver, which cures a temporary...
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9th Nov
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Coronavirus (COVID-19)This content is affected by the coronavirus (COVID-19) pandemic. For further details, take a look at our Coronavirus (COVID-19)...
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9th Nov
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Coronavirus (COVID-19)This content contains guidance on subjects impacted by the Coronavirus Act 2020 and related changes to court procedures and...
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9th Nov
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This Practice Note looks at:•the key features of loan to value (LTV) covenants•possible issues with calling an event of default based on a LTV...
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Produced in partnership with Alexander Pelopidas, James Walton and Matthew Brew of Rosling King LLP 12th Jan
Practice notes
The Court of Appeal has made it clear in JCAM that a moratorium cannot be obtained through the back door by filing a notice of intention to appoint an...
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Produced in partnership with Lexa Hilliard QC of Wilberforce Chambers 12th Jan
Practice notes
This Practice Note covers receivers who are appointed by the court, including the circumstances in which a court will appoint a receiver and who may...
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Produced in partnership with John Hughes of Shakespeare Martineau LLP 12th Jan
Practice notes
It is possible for a claim to be brought under section 423 of the Insolvency Act 1986 (IA 1986) against a company or individual following a...
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9th Nov
Practice notes
A demand for payment is a formal demand made in accordance with the contractual requirements underpinning the liability which the party issuing the...
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Produced in partnership with James Hannant of Guildhall Chambers 12th Jan
Precedents
Court Reference No: [INSERT COURT REF. NUMBER][IN THE HIGH COURT OF JUSTICEBUSINESS AND PROPERTY COURTS [OF ENGLAND AND WALES OR IN [INSERT...
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9th Nov
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The purpose of section 216 of the Insolvency Act 1986Section 216 of the Insolvency Act 1986 (IA 1986) is aimed at preventing phoenix companies from...
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9th Nov
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BrexitBREXIT: The UK is leaving the EU on Exit Day (as defined in the European Union (Withdrawal) Act 2018). This has an impact on this Practice Note....
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9th Nov
Practice notes
Coronavirus (COVID-19)This content contains guidance on subjects impacted by the Coronavirus Act 2020 and related changes to court procedures and...
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9th Nov
Practice notes
Coronavirus (COVID-19)This content contains guidance on subjects impacted by the Coronavirus Act 2020 and related changes to court procedures and...
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Produced in partnership with South Square and BDO LLP 12th Jan

Most recent Schemes of arrangement content

Practice notes
Schemes of arrangement—definition and basis in statuteA scheme of arrangement is a court-sanctioned compromise between a company and its creditors or...
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Produced in partnership with Jonathan Akinluyi of Latham & Watkins and Riccardo Alonzi of Skadden 9th Apr
Practice notes
The effect of a scheme of arrangement (scheme)At the second scheme hearing the court may give an order sanctioning a scheme. Section 899(3) of the...
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Produced in partnership with Jonathan Akinluyi of Latham & Watkins and Riccardo Alonzi of Skadden 9th Apr
Practice notes
Brexit impactAs of exit day (31 January 2020) the UK is no longer an EU Member State. However, in accordance with the Withdrawal Agreement, the UK...
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Produced in partnership with Jonathan Akinluyi of Latham & Watkins and Riccardo Alonzi of Skadden 9th Apr
Practice notes
Administration of the schemeThe scheme document will need to specify how the scheme of arrangement (scheme) will be administered and by whom. In...
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Produced in partnership with Chris Mallon of Skadden 9th Apr
Practice notes
Premier Oil is one of several companies in the oil & gas sector that has had to evaluate its financing options to adapt to the impact of a prolonged...
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Produced in partnership with Katrina Buckley of Allen & Overy LLP 9th Apr
Practice notes
The voting requirementAs set out in Practice Note: Schemes of arrangement—process and statutory framework, the Companies Act 2006, CA 2006, s 899(1)...
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Produced in partnership with Jonathan Akinluyi of Latham & Watkins and Riccardo Alonzi of Skadden 9th Apr
Practice notes
Taxation and insolvencyThere are relatively few specific rules governing the UK taxation of companies that are subject to insolvency procedures. The...
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Produced in partnership with David L. Irvine, Nathan Langford of Kirkland & Ellis International LLP and Philip Ridgway of Temple Tax Chambers 9th Apr
Practice notes
This Practice Note is for use when determining applicable law where the contract was entered into on or before 31 December 2020.For guidance on the...
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Produced in partnership with Angharad Parry of 20 Essex Street 8th Apr
Practice notes
This Practice Note introduces the Rome (EC) Convention on the Law Applicable to Contractual Obligations 1980 (the Rome Convention). It sets out the...
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8th Apr
Practice notes
This Practice Note is for use when determining applicable law in respect of events giving rise to damage, where such events occurred on or before IP...
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8th Apr
Practice notes
This Practice Note sets out certain key cases and associated relevant content in relation to schemes of arrangement. The cases are divided by topic...
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8th Apr
Practice notes
In September 2017, the Grand Court of the Cayman Islands (Parker J) sanctioned four separate interlinked Cayman Islands schemes of arrangement to...
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Produced in partnership with Caroline Moran, Nick Herrod and Christian La-Roda Thomas of Maples and Calder 8th Apr
Practice notes
IP completion dayAs of exit day (31 January 2020) the UK is no longer an EU Member State. However, in accordance with the Withdrawal Agreement, the UK...
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8th Apr
Practice notes
This Practice Note is now archived and no longer maintained. Brexit impactAs of exit day (31 January 2020) the UK is no longer an EU Member State....
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Produced in partnership with Marc Hecht of Latham & Watkins 8th Apr
Practice notes
This Practice Note should be read in conjunction with Practice Note: Schemes of arrangement—convening hearing and sanction hearing in light of the...
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Produced in partnership with Jonathan Akinluyi of Latham & Watkins and Riccardo Alonzi of Skadden 8th Apr
Practice notes
Status of the UKAs of exit day (31 January 2020) the UK is no longer an EU Member State. However, in accordance with the Withdrawal Agreement, the UK...
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8th Apr
Practice notes
What is valuation in the context of a scheme of arrangement?In general, a valuation in the context of a scheme of arrangement (a scheme) is used to...
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Produced in partnership with Jonathan Akinluyi of Latham & Watkins and Riccardo Alonzi of Skadden 8th Apr
Practice notes
This Practice Note is now archived and no longer maintained.In December 2015, Newey J sanctioned a scheme of arrangement for part of the Spanish...
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Produced in partnership with Iain White of Clifford Chance LLP 8th Apr
Practice notes
This Practice Note looks at the general principles involved in determining class issues. For a more detailed look at what may or may not fracture a...
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Produced in partnership with Jonathan Akinluyi of Latham & Watkins and Riccardo Alonzi of Skadden 8th Apr
Practice notes
This Practice Note considers the Hague Convention on Choice of Court Agreements and its application when seeking to enforce a court judgment or a...
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Produced in partnership with Cara North of Lipman Karas 8th Apr

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