Argo Blockchain PLC, In the Matter Of [2025] EWHC 2951 (Ch) (06 November 2025)

Argo Blockchain PLC, In the Matter Of [2025] EWHC 2951 (Ch) (06 November 2025)

The court is satisfied that the statutory jurisdictional requirements for a restructuring plan under Part 26A Companies Act 2006 are met, that the proposed class constitution (Growler, Noteholders, Shareholders) is appropriate, that adequate notice has been given, and that no roadblock or futility prevents the plan from proceeding. Accordingly, meetings of the three classes are ordered to be convened to consider the proposed restructuring plan.

Citation
[2025] EWHC 2951 (Ch)
Parties
Plan Company: Argo Blockchain plc; Supporting Creditor: Growler Mining Tuscaloosa, LLC; Retail Advocate: Jonathan Yorke
Jurisdiction
England and Wales
Judgment Date
06 November 2025
Procedural Posture
Restructuring Plan Convening Hearing (part 26 a Companies Act 2006) / Order Convening Meetings of Creditors and Shareholders
Outcome
Order granted to convene meetings of creditors and shareholders to consider the restructuring plan.
Legal Topics
Restructuring Plan, Scheme of Arrangement, Class Constitution, Jurisdiction Under Companies Act 2006 Part 26 a, Notice Requirements, International Recognition of Restructuring Plans
Insolvency Company Law Restructuring Plan Scheme of Arrangement Class Constitution Jurisdiction Under Companies Act 2006 Part 26 a Notice Requirements International Recognition of Restructuring Plans

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Parties

Argo Blockchain plc

Plan Company

Growler Mining Tuscaloosa, LLC

Supporting Creditor

Jonathan Yorke

Retail Advocate

Procedural Posture

Restructuring Plan Convening Hearing (part 26 a Companies Act 2006) / Order Convening Meetings of Creditors and Shareholders

Legal Issues

  1. 1 Whether the jurisdictional requirements under Part 26A Companies Act 2006 are satisfied
  2. 2 Whether the proposed class constitution for meetings is appropriate
  3. 3 Whether adequate notice has been given to affected parties

Ratio Decidendi

The court is satisfied that the statutory jurisdictional requirements for a restructuring plan under Part 26A Companies Act 2006 are met, that the proposed class constitution (Growler, Noteholders, Shareholders) is appropriate, that adequate notice has been given, and that no roadblock or futility prevents the plan from proceeding. Accordingly, meetings of the three classes are ordered to be convened to consider the proposed restructuring plan.

Court Disposition

Order granted to convene meetings of creditors and shareholders to consider the restructuring plan.

Orders

  • Meetings of Growler (secured lender), Noteholders, and Shareholders to be convened as separate classes to consider and, if thought fit, approve the restructuring plan.
  • Plan Company to proceed with notice and explanatory documentation as set out in the Practice Statement.