Chaptre Finance Plc, Re [2023] EWHC 1665 (Ch) (15 June 2023)

Chaptre Finance Plc, Re [2023] EWHC 1665 (Ch) (15 June 2023)

The court is satisfied that the proposed classes are properly constituted, that sufficient notice has been given, and that the jurisdictional requirements under Part 26A of the Companies Act 2006 are met. There are no jurisdictional or procedural roadblocks to convening the meetings. The application to convene the meetings is granted.

Citation
[2023] EWHC 1665 (Ch)
Parties
Applicant: Chaptre Finance plc; Creditor: Funder Creditors; Creditor: Hedging Bank Creditors; Creditor: Enviva Wilmington Holdings, LLC (Pellet Supplier)
Jurisdiction
England and Wales
Judgment Date
15 June 2023
Procedural Posture
Restructuring Plan Application / Convening Hearing
Outcome
Application granted
Legal Topics
Restructuring Plan, Creditors' Meetings, Class Composition, Jurisdiction Under Companies Act 2006, Super Senior Facility, Ranking of Creditors
Insolvency Company Law Restructuring Plan Creditors' Meetings Class Composition Jurisdiction Under Companies Act 2006 Super Senior Facility Ranking of Creditors

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 3 Authorities cited 9 Party arguments 2 Amounts and remedies 10
Sign in to unlock

Parties

Chaptre Finance plc

Applicant

Funder Creditors

Creditor

Hedging Bank Creditors

Creditor

Enviva Wilmington Holdings, LLC (Pellet Supplier)

Creditor

Procedural Posture

Restructuring Plan Application / Convening Hearing

Legal Issues

  1. 1 Whether to grant permission to convene meetings of creditors for approval of a restructuring plan under Part 26A of the Companies Act 2006
  2. 2 Whether the proposed creditor classes are properly constituted
  3. 3 Whether jurisdictional and procedural requirements are satisfied

Ratio Decidendi

The court is satisfied that the proposed classes are properly constituted, that sufficient notice has been given, and that the jurisdictional requirements under Part 26A of the Companies Act 2006 are met. There are no jurisdictional or procedural roadblocks to convening the meetings. The application to convene the meetings is granted.

Court Disposition

Application granted

Orders

  • Order convening three meetings of creditor classes to consider the restructuring plan as set out in the draft order.