People's Energy (Supply) Ltd (In Administration), In the Matter Of (Re Companies Act 2006) [2023] EWHC 2610 (Ch) (16 October 2023)

People's Energy (Supply) Ltd (In Administration), In the Matter Of (Re Companies Act 2006) [2023] EWHC 2610 (Ch) (16 October 2023)

The rights of all scheme creditors, including trade and data breach creditors, are sufficiently similar in both the comparator (administration) and under the scheme to justify a single class. Adequate notice and documentation have been provided. There are no jurisdictional impediments to convening the meeting.

Citation
[2023] EWHC 2610 (Ch)
Parties
Claimant: People's Energy (Supply) Limited (in administration); Parent Company: People's Energy Company Limited; Insurer: Hiscox Insurance Company Limited
Jurisdiction
England and Wales
Judgment Date
16 October 2023
Procedural Posture
Scheme of Arrangement (part 26 Companies Act 2006) / Convening Hearing for Creditors' Meeting
Outcome
Application granted
Legal Topics
Scheme of Arrangement, Class Composition, Data Breach Claims, Third Party Releases, Notice to Creditors, Jurisdiction to Sanction Scheme
Insolvency Company Law Data Protection Scheme of Arrangement Class Composition Data Breach Claims Third Party Releases Notice to Creditors +1 more

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Parties

People's Energy (Supply) Limited (in administration)

Claimant

People's Energy Company Limited

Parent Company

Hiscox Insurance Company Limited

Insurer

Procedural Posture

Scheme of Arrangement (part 26 Companies Act 2006) / Convening Hearing for Creditors' Meeting

Legal Issues

  1. 1 Whether to convene a single meeting of scheme creditors for approval of the proposed scheme of arrangement
  2. 2 Whether class composition is appropriate for a single class
  3. 3 Whether notification to creditors was adequate

Ratio Decidendi

The rights of all scheme creditors, including trade and data breach creditors, are sufficiently similar in both the comparator (administration) and under the scheme to justify a single class. Adequate notice and documentation have been provided. There are no jurisdictional impediments to convening the meeting.

Court Disposition

Application granted

Orders

  • Order for convening a single meeting of all scheme creditors to consider and, if thought fit, approve the scheme of arrangement
  • Order sealing the confidential Hiscox settlement from non-parties, subject to application for access