Yunneng Wind Power Co, Ltd, Re [2023] EWHC 2111 (Ch) (26 July 2023)

Yunneng Wind Power Co, Ltd, Re [2023] EWHC 2111 (Ch) (26 July 2023)

The court is satisfied that the statutory requirements for convening meetings under Part 26A CA 2006 are met, including jurisdiction, financial difficulty, and appropriateness of class composition. Adequate notice has been given and there are no procedural obstacles. The order to convene five meetings of Plan Creditors is granted.

Citation
[2023] EWHC 2111 (Ch)
Parties
Applicant / Plan Company: Yunneng Wind Power Co., Ltd.
Jurisdiction
England and Wales
Judgment Date
26 July 2023
Procedural Posture
Restructuring Plan Convening Application / Convening Hearing (pre Sanction)
Outcome
Application granted
Legal Topics
Restructuring Plan, Class Composition, Jurisdiction, Notice Requirements, Cross Class Cram Down
Insolvency Company Law Banking & Finance Restructuring Plan Class Composition Jurisdiction Notice Requirements Cross Class Cram Down

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 5 Authorities cited 10 Party arguments 2 Amounts and remedies 8
Sign in to unlock

Parties

Yunneng Wind Power Co., Ltd.

Applicant / Plan Company

Procedural Posture

Restructuring Plan Convening Application / Convening Hearing (pre Sanction)

Legal Issues

  1. 1 Whether the court should order the convening of five meetings of classes of finance creditors to consider a Restructuring Plan under Part 26A of the Companies Act 2006
  2. 2 Whether the jurisdictional requirements under s.901A CA 2006 are satisfied for a foreign company
  3. 3 Whether Conditions A and B under s.901A CA 2006 are met

Ratio Decidendi

The court is satisfied that the statutory requirements for convening meetings under Part 26A CA 2006 are met, including jurisdiction, financial difficulty, and appropriateness of class composition. Adequate notice has been given and there are no procedural obstacles. The order to convene five meetings of Plan Creditors is granted.

Court Disposition

Application granted

Orders

  • Order for convening five meetings of Plan Creditors as proposed by the Company
  • Explanatory Statement and relevant documents to be circulated to Plan Creditors as soon as practicable