Argo Blockchain PLC, Re [2025] EWHC 3257 (Ch) (10 December 2025)

Argo Blockchain PLC, Re [2025] EWHC 3257 (Ch) (10 December 2025)

The plan is a proper compromise or arrangement under Part 26A, the class constitution and notice were proper, the plan is fair and not unfairly prejudicial, no class is worse off than in the relevant alternative, and the plan is workable and effective in relevant jurisdictions. The statutory requirements for cross-class cramdown are satisfied. The plan should be sanctioned.

Citation
[2025] EWHC 3257 (Ch)
Parties
Plan Company: Argo Blockchain PLC; Supporting Creditor: Growler Mining Tuscaloosa, LLC; Retail Advocate: Mr Jonathan Yorke
Jurisdiction
England and Wales
Judgment Date
10 December 2025
Procedural Posture
Companies Act Part 26 a Restructuring Plan Sanction Hearing / Sanction Judgment
Outcome
Plan sanctioned
Legal Topics
Restructuring Plan, Cross Class Cramdown, Sanction of Scheme, Class Constitution, Notice Requirements
Insolvency Company Law Restructuring Plan Cross Class Cramdown Sanction of Scheme Class Constitution Notice Requirements

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Parties

Argo Blockchain PLC

Plan Company

Growler Mining Tuscaloosa, LLC

Supporting Creditor

Mr Jonathan Yorke

Retail Advocate

Procedural Posture

Companies Act Part 26 a Restructuring Plan Sanction Hearing / Sanction Judgment

Legal Issues

  1. 1 Whether the restructuring plan should be sanctioned under Part 26A of the Companies Act 2006
  2. 2 Whether the class constitution and notice were proper
  3. 3 Whether cross-class cramdown requirements are satisfied

Ratio Decidendi

The plan is a proper compromise or arrangement under Part 26A, the class constitution and notice were proper, the plan is fair and not unfairly prejudicial, no class is worse off than in the relevant alternative, and the plan is workable and effective in relevant jurisdictions. The statutory requirements for cross-class cramdown are satisfied. The plan should be sanctioned.

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 Section 3(a)(10) exemption of the US Securities Act 1933 and the court's approval of the plan following a fairness hearing.