Atento UK Ltd & Anor, Re [2023] EWHC 2754 (Ch) (20 October 2023)

Atento UK Ltd & Anor, Re [2023] EWHC 2754 (Ch) (20 October 2023)

The court is satisfied that all statutory and procedural requirements for convening creditor meetings under section 901C Companies Act 2006 are met, including adequate notice, jurisdiction, and appropriate class composition. No procedural or jurisdictional roadblocks exist. The convening order is granted to allow creditor meetings for consideration of the proposed restructuring plans.

Citation
[2023] EWHC 2754 (Ch)
Parties
Claimant: Atento UK Limited; Claimant: Atento Luxco 1
Jurisdiction
England and Wales
Judgment Date
20 October 2023
Procedural Posture
Companies Court / Insolvency (convening Hearing) / Application for Convening Meetings of Creditors Under Section 901 C Companies Act 2006
Outcome
Application granted
Legal Topics
Restructuring Plan, Convening Creditors' Meetings, Class Composition, Jurisdiction Under Companies Act 2006, Exit Financing, Creditor Rights
Insolvency Company Law Restructuring Plan Convening Creditors' Meetings Class Composition Jurisdiction Under Companies Act 2006 Exit Financing Creditor Rights

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Parties

Atento UK Limited

Claimant

Atento Luxco 1

Claimant

Procedural Posture

Companies Court / Insolvency (convening Hearing) / Application for Convening Meetings of Creditors Under Section 901 C Companies Act 2006

Legal Issues

  1. 1 Whether to convene meetings of creditors for proposed restructuring plans under section 901C Companies Act 2006
  2. 2 Adequacy of notice to creditors
  3. 3 Jurisdictional requirements for plan companies

Ratio Decidendi

The court is satisfied that all statutory and procedural requirements for convening creditor meetings under section 901C Companies Act 2006 are met, including adequate notice, jurisdiction, and appropriate class composition. No procedural or jurisdictional roadblocks exist. The convening order is granted to allow creditor meetings for consideration of the proposed restructuring plans.

Court Disposition

Application granted

Orders

  • Order made convening meetings of creditors of Atento UK Limited and Atento Luxco 1 for consideration of proposed restructuring plans.