Part 26A Restructuring plans: Administration is not a guarantee of compliance and composite rights require different classes (Re Amicus Finance Plc)

August 16, 2021 1:51 pm Published by

Restructuring & Insolvency analysis: The Court found that administration was not a complete answer to the requirement of condition A for restructuring plans proposed under Part 26A of the Companies Act 2006 (CA 2006). It was also necessary to show that condition A was satisfied on the evidence available. Separate classes were also required for the senior and junior secured debt. Written by Andrew Mace of 9 Stone Buildings who acted for Crowdstacker Corporate Services Limited (Crowdstacker).

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