Argo Blockchain plc, Re

Argo Blockchain plc, Re

The restructuring plan is sanctioned under Part 26A Companies Act 2006, as statutory preconditions for cross-class cramdown are satisfied, the allocation of restructuring benefits is fair relative to contributions, no 'blot' or defect exists, and the plan is likely to be recognised internationally. The objections raised by Noteholders and Shareholders do not outweigh the fairness and necessity of the plan.

Parties
Applicant: Argo Blockchain plc; Supporting Creditor: Growler Mining Tuscaloosa, LLC; Retail Advocate: Mr Jonathan Yorke
Jurisdiction
England and Wales
Judgment Date
15 January 2026
Procedural Posture
Restructuring Plan Sanction Under Part 26 a Companies Act 2006 / Sanction Hearing
Outcome
Plan sanctioned under Part 26A Companies Act 2006, with cross-class cramdown applied to Noteholders.
Legal Topics
Cross Class Cramdown, Fairness of Restructuring Plan, Allocation of Restructuring Benefits, Excluded Liabilities, International Recognition, NASDAQ Listing, Section 3(a)(10) US Securities Act
Company Law Insolvency Law Restructuring Cross Class Cramdown Fairness of Restructuring Plan Allocation of Restructuring Benefits Excluded Liabilities International Recognition +2 more

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Parties

Argo Blockchain plc

Applicant

Growler Mining Tuscaloosa, LLC

Supporting Creditor

Mr Jonathan Yorke

Retail Advocate

Procedural Posture

Restructuring Plan Sanction Under Part 26 a Companies Act 2006 / Sanction Hearing

Legal Issues

  1. 1 Whether the restructuring plan should be sanctioned under Part 26A Companies Act 2006
  2. 2 Whether statutory requirements for cross-class cramdown are satisfied
  3. 3 Whether the allocation of restructuring benefits is fair

Ratio Decidendi

The restructuring plan is sanctioned under Part 26A Companies Act 2006, as statutory preconditions for cross-class cramdown are satisfied, the allocation of restructuring benefits is fair relative to contributions, no 'blot' or defect exists, and the plan is likely to be recognised internationally. The objections raised by Noteholders and Shareholders do not outweigh the fairness and necessity of the plan.

Court Disposition

Plan sanctioned under Part 26A Companies Act 2006, with cross-class cramdown applied to Noteholders.

Orders

  • Sanction of the restructuring plan under Part 26A Companies Act 2006
  • Approval of equity allocation as per plan: Growler 87.5%, Noteholders 10%, Shareholders 2.5%