Argo Blockchain PLC, Re

Argo Blockchain PLC, Re

The Plan Company’s restructuring plan is sanctioned because it meets statutory requirements, provides a fair allocation of burdens and benefits, no class is worse off than in the relevant alternative, and the Plan is not unworkable or improper. The court is satisfied that cross-class cramdown conditions are met and the Plan will be effective in relevant jurisdictions.

Parties
Plan Company: Argo Blockchain PLC; Supporting Creditor: Growler Mining Tuscaloosa, LLC; Retail Advocate: Mr Jonathan Yorke
Jurisdiction
England and Wales
Judgment Date
15 December 2025
Procedural Posture
Company Restructuring (part 26 a Scheme) / Sanction Hearing
Outcome
Plan sanctioned
Legal Topics
Restructuring, Cross Class Cramdown, Scheme of Arrangement, Administration, Shareholder Rights
Company Law Insolvency Law Restructuring Cross Class Cramdown Scheme of Arrangement Administration Shareholder Rights

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Parties

Argo Blockchain PLC

Plan Company

Growler Mining Tuscaloosa, LLC

Supporting Creditor

Mr Jonathan Yorke

Retail Advocate

Procedural Posture

Company Restructuring (part 26 a Scheme) / Sanction Hearing

Legal Issues

  1. 1 Whether the Plan Company’s restructuring plan should be sanctioned under Part 26A of the Companies Act 2006
  2. 2 Whether the class constitution and meetings were valid
  3. 3 Whether cross-class cramdown requirements are satisfied

Ratio Decidendi

The Plan Company’s restructuring plan is sanctioned because it meets statutory requirements, provides a fair allocation of burdens and benefits, no class is worse off than in the relevant alternative, and the Plan is not unworkable or improper. The court is satisfied that cross-class cramdown conditions are met and the Plan will be effective in relevant jurisdictions.

Court Disposition

Plan sanctioned

Orders

  • The restructuring plan is sanctioned under Part 26A of the Companies Act 2006.
  • The Order will note the Plan Company’s intention to rely on the exemption in Section 3(a)(10) of the United States Securities Act 1933 and the court’s sanction as approval following a fairness hearing.