In the matter of FGL Holdings - Ruling [2023] CIFsd 104 (08 November 2023)

In the matter of FGL Holdings - Ruling [2023] CIFsd 104 (08 November 2023)

The court found that all statutory requirements were satisfied, the scheme was fair and reasonable, and there was no evidence of coercion or unfairness. The scheme was therefore sanctioned.

Citation
[2023] CIFsd 104
Parties
Subject Company: FGL Holdings
Jurisdiction
Cayman Islands
Judgment Date
08 November 2023
Procedural Posture
Corporate Restructuring / Ruling
Outcome
scheme sanctioned
Legal Topics
Scheme of Arrangement, Shareholder Rights
Corporate Law Insolvency Scheme of Arrangement Shareholder Rights

Case Brief

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Parties

FGL Holdings

Subject Company

Procedural Posture

Corporate Restructuring / Ruling

Legal Issues

  1. 1 Whether the scheme of arrangement proposed by FGL Holdings should be sanctioned by the court

Ratio Decidendi

The court found that all statutory requirements were satisfied, the scheme was fair and reasonable, and there was no evidence of coercion or unfairness. The scheme was therefore sanctioned.

Court Disposition

scheme sanctioned

Orders

  • The scheme of arrangement is sanctioned.
  • FGL Holdings is authorized to proceed with the implementation of the scheme.