Cineworld Group Plc, Re

Cineworld Group Plc, Re

The Company is insolvent or likely to become unable to pay its debts, the administration order is reasonably likely to achieve a better result for creditors than liquidation, and the application is supported by the overwhelming majority of creditors and has been carefully scrutinised by the US Bankruptcy Court. The statutory requirements are satisfied and the court exercises its discretion to make the order.

Parties
Applicant: Cineworld Group plc; Respondent: Respondents
Jurisdiction
England and Wales
Judgment Date
11 October 2024
Procedural Posture
Insolvency/administration Application / Judgment on Application for Administration Order
Outcome
Administration order granted
Legal Topics
Administration Order, Jurisdiction Under Insolvency Act 1986, Purpose of Administration, Debt Restructuring, Cross Border Insolvency
Insolvency Law Company Law Administration Order Jurisdiction Under Insolvency Act 1986 Purpose of Administration Debt Restructuring Cross Border Insolvency

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 4 Party arguments 2 Amounts and remedies 9
Sign in to unlock

Parties

Cineworld Group plc

Applicant

Respondents

Respondent

Procedural Posture

Insolvency/administration Application / Judgment on Application for Administration Order

Legal Issues

  1. 1 Whether the statutory requirements for making an administration order under the Insolvency Act 1986 are satisfied
  2. 2 Whether the administration order is reasonably likely to achieve the purpose of administration
  3. 3 Whether the court should exercise its discretion to make the administration order

Ratio Decidendi

The Company is insolvent or likely to become unable to pay its debts, the administration order is reasonably likely to achieve a better result for creditors than liquidation, and the application is supported by the overwhelming majority of creditors and has been carefully scrutinised by the US Bankruptcy Court. The statutory requirements are satisfied and the court exercises its discretion to make the order.

Court Disposition

Administration order granted

Orders

  • The Company is placed into administration.
  • Simon Jonathan Appell, Ian Partridge, and Catherine Mary Williamson of AlixPartners UK LLP are appointed as administrators.