Restructuring Plans · glossary
A way for a company in financial difficulty to change its debts by its creditors’ votes in classes, under Part 26A of the Companies Act 2006. The court then decides whether to sanction it. Unlike a scheme, it can bind a class that voted no. Explanatory Statement, title page · Chapter 1 · see Cram down, Scheme of arrangement
Explained in Chapter 1, What a Restructuring Plan Is and Why a Company Uses One, of Restructuring Plans.
A restructuring plan lets a company in financial difficulty change its debts with its creditors’ votes. The creditors vote in groups called classes. The High Court in London then decides whether to approve the plan. That approval is called sanction, and it binds every creditor in the plan, even those who voted no. This workbook follows one plan from the first deal to the day it takes effect. You are a trainee in the restructuring team at Pellister Treddow LLP, a law firm in…Read Chapter 1, What a Restructuring Plan Is and Why a Company Uses One →
Chapter 1 and this glossary are open to everyone; the whole edition is free to read with a free account until 31 January, and it stays open to an account opened by then.Chapter 1 of Restructuring Plans and this glossary are free to read; the rest of the edition is in the Library, at €12 a month or €79 for a Year Pass.
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This term is part of one complete fictional deal, with every document attached and a test after every chapter. Open Restructuring Plans → · All terms A–Z →