Restructuring Plans · glossary
A real tie between a plan and England, which the court needs before it acts for a foreign company. Valkenrade is Dutch, but both its plan debts are under English law and let creditors sue in the English courts. Explanatory Statement, paragraph 8.2 · Chapter 2
Explained in Chapter 2, Restructuring Plan vs Scheme of Arrangement vs WHOA, of Restructuring Plans.
Valkenrade is a foreign company, so a second question follows. Part 26A reaches a foreign company that the court could wind up (close down and sell off), and Valkenrade is one. The court must also find a sufficient connection with England, a real tie between the plan and this country.Read Chapter 2, Restructuring Plan vs Scheme of Arrangement vs WHOA →
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