Almida Group Unlimited & Ors, Re [2023] EWHC 3561 (Ch) (01 December 2023)

Almida Group Unlimited & Ors, Re [2023] EWHC 3561 (Ch) (01 December 2023)

The scheme of arrangement is sanctioned because all statutory requirements are satisfied, all necessary consents have been obtained, the scheme is fair and reasonable, and there are no defects or improper tax avoidance motives.

Citation
[2023] EWHC 3561 (Ch)
Parties
Applicants: Almida Group Unlimited & Others
Jurisdiction
England and Wales
Judgment Date
01 December 2023
Procedural Posture
Scheme of Arrangement Under Part 26 Companies Act 2006 / Sanction Hearing
Outcome
Scheme of arrangement sanctioned.
Legal Topics
Scheme of Arrangement, Amalgamation, Jurisdiction Under Companies Act 2006 Section 900
Company Law Corporate Restructuring Scheme of Arrangement Amalgamation Jurisdiction Under Companies Act 2006 Section 900

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Parties

Almida Group Unlimited & Others

Applicants

Procedural Posture

Scheme of Arrangement Under Part 26 Companies Act 2006 / Sanction Hearing

Legal Issues

  1. 1 Whether the scheme of arrangement meets the requirements of Part 26 and Section 900 of the Companies Act 2006
  2. 2 Whether jurisdictional requirements are satisfied
  3. 3 Whether the scheme is fair and workable

Ratio Decidendi

The scheme of arrangement is sanctioned because all statutory requirements are satisfied, all necessary consents have been obtained, the scheme is fair and reasonable, and there are no defects or improper tax avoidance motives.

Court Disposition

Scheme of arrangement sanctioned.

Orders

  • Scheme of arrangement under Section 900(2) Companies Act 2006 sanctioned as per the form of order presented.