ALL Scheme Ltd, Re (Companies Act 2006)

ALL Scheme Ltd, Re (Companies Act 2006)

A single class meeting is appropriate as no fundamental dissimilarities exist among scheme creditors' rights; arrangements for notice, information, and voting are adequate; no jurisdictional or procedural roadblocks prevent convening the meeting.

Parties
Applicant: ALL Scheme Ltd; Respondent: Independent Scheme Assessor
Jurisdiction
England and Wales
Judgment Date
14 May 2021
Procedural Posture
Scheme of Arrangement / Application for Convening Creditors' Meeting
Outcome
Application granted
Legal Topics
Scheme of Arrangement, Class Composition, Creditor Rights, Redress Claims, Voting Arrangements
Insolvency Company Law Scheme of Arrangement Class Composition Creditor Rights Redress Claims Voting Arrangements

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Parties

ALL Scheme Ltd

Applicant

Independent Scheme Assessor

Respondent

Procedural Posture

Scheme of Arrangement / Application for Convening Creditors' Meeting

Legal Issues

  1. 1 Whether a single class meeting of scheme creditors is appropriate
  2. 2 Adequacy of notice and information to scheme creditors
  3. 3 Arrangements for ascertaining the will of scheme creditors

Ratio Decidendi

A single class meeting is appropriate as no fundamental dissimilarities exist among scheme creditors' rights; arrangements for notice, information, and voting are adequate; no jurisdictional or procedural roadblocks prevent convening the meeting.

Court Disposition

Application granted

Orders

  • A single meeting of scheme creditors is convened in accordance with the draft order.