Cobham Plc, Re Companies Act 2006 [2020] EWHC 320 (Ch) (15 January 2020)

Cobham Plc, Re Companies Act 2006 [2020] EWHC 320 (Ch) (15 January 2020)

The scheme met all statutory and procedural requirements, the class was fairly represented, the majority acted bona fide, the documentation was sufficiently clear, and the timing of the sanction hearing did not invalidate the earlier vote. The objections did not warrant refusal of sanction.

Citation
[2020] EWHC 320 (Ch)
Parties
Company: Cobham plc; Objector/shareholder: Mr Sills
Jurisdiction
England and Wales
Judgment Date
15 January 2020
Procedural Posture
Scheme of Arrangement (companies Act 2006) / Sanction Hearing
Outcome
Scheme sanctioned
Legal Topics
Scheme of Arrangement, Shareholder Rights, Court Sanction of Schemes
Company Law Insolvency Scheme of Arrangement Shareholder Rights Court Sanction of Schemes

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 1 Authorities cited 2 Party arguments 2 Amounts and remedies 12
Sign in to unlock

Parties

Cobham plc

Company

Mr Sills

Objector/shareholder

Procedural Posture

Scheme of Arrangement (companies Act 2006) / Sanction Hearing

Legal Issues

  1. 1 Whether statutory requirements for the scheme of arrangement have been complied with
  2. 2 Whether the class of members was fairly represented and the majority acted bona fide
  3. 3 Whether an intelligent and honest member could reasonably approve the scheme

Ratio Decidendi

The scheme met all statutory and procedural requirements, the class was fairly represented, the majority acted bona fide, the documentation was sufficiently clear, and the timing of the sanction hearing did not invalidate the earlier vote. The objections did not warrant refusal of sanction.

Court Disposition

Scheme sanctioned

Orders

  • The scheme of arrangement in respect of Cobham plc is sanctioned.