IN THE MATTER OF HOUST LIMITED

IN THE MATTER OF HOUST LIMITED

The statutory and procedural requirements for convening meetings under section 901C are satisfied. The company is insolvent, the restructuring plan is a compromise or arrangement with creditors and members, and the plan's purpose is to address financial difficulties. The proposed class composition is appropriate and all affected parties have been given adequate notice.

Parties
Applicant Company: Houst Limited
Jurisdiction
England and Wales
Judgment Date
14 June 2022
Procedural Posture
Company Restructuring/convening Order / Application for Convening Meetings Under Section 901 C Companies Act 2006
Outcome
Order granted
Legal Topics
Restructuring Plan, Convening Creditors' and Members' Meetings, Cross Class Cram Down
Insolvency Company Law Restructuring Plan Convening Creditors' and Members' Meetings Cross Class Cram Down

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Parties

Houst Limited

Applicant Company

Procedural Posture

Company Restructuring/convening Order / Application for Convening Meetings Under Section 901 C Companies Act 2006

Legal Issues

  1. 1 Whether the jurisdictional requirements for a restructuring plan under section 901A Companies Act 2006 are satisfied
  2. 2 Whether the proposed class composition for creditor and member meetings is appropriate
  3. 3 Whether all procedural requirements for convening meetings have been met

Ratio Decidendi

The statutory and procedural requirements for convening meetings under section 901C are satisfied. The company is insolvent, the restructuring plan is a compromise or arrangement with creditors and members, and the plan's purpose is to address financial difficulties. The proposed class composition is appropriate and all affected parties have been given adequate notice.

Court Disposition

Order granted

Orders

  • Order convening five meetings of creditors and one meeting of members for consideration of the proposed restructuring plan.