Despite meeting statutory jurisdictional requirements under Part 26A of the Companies Act 2006, the High Court declined to exercise its discretion in favour of sanctioning Waldorf Production UK Plc’s restructuring plan in August 2025due to concerns about fair allocation of value and lack of meaningful engagement with unsecured creditors. Waldorf then sought and was granted … Continue Reading
The Court of Appeal has handed down judgment in the Petrofac restructuring plan, overturning the sanctioning of the plans by the High Court. This is only the third time a restructuring plan has been considered by the Court of Appeal, in this blog we focus in on some of the key points of interest for … Continue Reading
Following our 2016 article, the Court of Appeal has upheld the decision of the High Court that dividends are liable to challenge as transactions defrauding creditors under section 423 of the Insolvency Act 1986 (the “IA”). The case of BTI 2014 LLC v Sequana S.A. & Others [2019] EWCA Civ 112 should serve as a … Continue Reading
The Court of Appeal in Harvey v Dunbar Assets plc [2017] EWCA Civ 60 has confirmed that parties cannot re-litigate failed arguments that have previously been presented in bankruptcy proceedings. This will be welcome news for creditors in situations where debtors rehearse the same arguments at several stages of the bankruptcy process in an attempt … Continue Reading
