In a judgment of 9 July 2025 the Landgericht Frankfurt am Main (District Court of Frankfurt am Main) held (case 2-12 O 239/24) that a Part 26A plan sanctioned by the English High Court is not enforceable in Germany and that accordingly the affected German dissenting lender was entitled to sue the plan company, i.e. … Continue Reading
The judgment handed down in the matter of CB&I UK Ltd suggests that the English Courts will not expedite or truncate sanction hearing timetables to accommodate requests from companies which have applied for a restructuring plan under Part 26A of the Companies Act 2006 (“Restructuring Plan”) unless there are good reasons for doing so. Distressed … Continue Reading
The UK High Court has ruled that the obligations of third-party guarantors are not affected by a part 26A restructuring plan being sanctioned in respect of the underlying obligations. This approach mirrors the way guarantees are dealt with in a part 26 scheme of arrangement. The case of Oceanfill Ltd. v Nuffield Health Wellbeing Ltd … Continue Reading
