Swissport Fuelling Ltd, Re

Swissport Fuelling Ltd, Re

The court ordered the convening of a single meeting of scheme creditors (lenders under the Credit Agreement) as their rights are substantially the same, there are no jurisdictional or procedural obstacles, and the notice and arrangements for the meeting are adequate given the urgency and sophistication of the creditors.

Parties
Applicant/company: Swissport Fuelling Limited; Respondent/objector: Ad Hoc Group of Creditors
Jurisdiction
England and Wales
Judgment Date
05 June 2020
Procedural Posture
Scheme of Arrangement (companies Act 2006) / Convening Hearing (order to Convene Creditors' Meeting)
Outcome
Order granted to convene a meeting of scheme creditors (single class) and declaration as to appointment of foreign representative.
Legal Topics
Schemes of Arrangement, Jurisdiction, Class Composition, International Recognition, Creditors' Rights
Insolvency Law Company Law Banking and Finance Schemes of Arrangement Jurisdiction Class Composition International Recognition Creditors' Rights

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Parties

Swissport Fuelling Limited

Applicant/company

Ad Hoc Group of Creditors

Respondent/objector

Procedural Posture

Scheme of Arrangement (companies Act 2006) / Convening Hearing (order to Convene Creditors' Meeting)

Legal Issues

  1. 1 Whether to convene a meeting of scheme creditors under section 896 of the Companies Act 2006
  2. 2 Whether scheme creditors should be treated as a single class
  3. 3 Whether there are jurisdictional or procedural roadblocks to convening the meeting

Ratio Decidendi

The court ordered the convening of a single meeting of scheme creditors (lenders under the Credit Agreement) as their rights are substantially the same, there are no jurisdictional or procedural obstacles, and the notice and arrangements for the meeting are adequate given the urgency and sophistication of the creditors.

Court Disposition

Order granted to convene a meeting of scheme creditors (single class) and declaration as to appointment of foreign representative.

Orders

  • Meeting of scheme creditors (lenders under the Credit Agreement) to be convened as a single class to consider the scheme of arrangement.
  • Notice to be given as set out, with meeting to be held virtually by Webinar.