Agrokor D.D., Re

Agrokor D.D., Re

The court has jurisdiction to convene a single meeting of scheme creditors as the company has sufficient connection with England and Wales, the rights are governed by English law, and there is only one class of creditors affected by the scheme.

Parties
Applicant: Agrokor d.d.
Jurisdiction
England and Wales
Judgment Date
14 February 2019
Procedural Posture
Scheme of Arrangement Application / Application to Convene Creditors' Meeting
Outcome
Application granted
Legal Topics
Scheme of Arrangement, Jurisdiction, Cross Border Insolvency, Creditors' Meetings
Insolvency Law Company Law Scheme of Arrangement Jurisdiction Cross Border Insolvency Creditors' Meetings

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Parties

Agrokor d.d.

Applicant

Procedural Posture

Scheme of Arrangement Application / Application to Convene Creditors' Meeting

Legal Issues

  1. 1 Whether the court has jurisdiction to convene a creditors' meeting for a foreign company under Part 26 of the Companies Act 2006
  2. 2 Whether there is sufficient connection with the jurisdiction of England and Wales
  3. 3 Whether only one class of creditors exists for the purposes of the scheme meeting

Ratio Decidendi

The court has jurisdiction to convene a single meeting of scheme creditors as the company has sufficient connection with England and Wales, the rights are governed by English law, and there is only one class of creditors affected by the scheme.

Court Disposition

Application granted

Orders

  • Order to convene a meeting of scheme creditors on 28 February 2019
  • Information relating to the scheme and meeting to be posted on the identified website and emailed to scheme creditors by 4.00 pm on 15 February 2019