Almida Group Unlimted & Ors, Re

Almida Group Unlimted & Ors, Re

The scheme meets all statutory requirements under Section 900 of the Companies Act 2006, is fair, workable, and does not infringe on any legal principles or confer tax benefits. The court is satisfied to sanction the scheme.

Parties
Applicant: Almida Group Unlimited & Others
Jurisdiction
England and Wales
Judgment Date
16 July 2024
Procedural Posture
Scheme of Arrangement / Sanction Hearing
Outcome
Scheme sanctioned
Legal Topics
Scheme of Arrangement, Amalgamation, Jurisdiction, Fairness of Scheme, Dissolution of Companies
Company Law Corporate Restructuring Scheme of Arrangement Amalgamation Jurisdiction Fairness of Scheme Dissolution of Companies

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Parties

Almida Group Unlimited & Others

Applicant

Procedural Posture

Scheme of Arrangement / Sanction Hearing

Legal Issues

  1. 1 Whether the court has jurisdiction to sanction the scheme under Section 900 of the Companies Act 2006
  2. 2 Whether the convening order was complied with
  3. 3 Whether the requisite majority was obtained

Ratio Decidendi

The scheme meets all statutory requirements under Section 900 of the Companies Act 2006, is fair, workable, and does not infringe on any legal principles or confer tax benefits. The court is satisfied to sanction the scheme.

Court Disposition

Scheme sanctioned

Orders

  • Scheme of arrangement under Section 900 of the Companies Act 2006 is sanctioned as per the draft order.