In the matter of Haya Holdco 2 Plc

In the matter of Haya Holdco 2 Plc

The scheme met all statutory requirements, was overwhelmingly supported by creditors, modifications were technical and not materially adverse, and the scheme is likely to be recognised in Spain. The court therefore sanctioned the scheme.

Source-derived case information.

Parties
Applicant: Haya Holdco 2 plc
Jurisdiction
England and Wales
Judgment Date
09 June 2022
Procedural Posture
Insolvency Scheme of Arrangement / Sanction Hearing
Outcome
Scheme sanctioned
Legal Topics
Scheme of Arrangement, Creditors' Rights, Cross Border Recognition
Insolvency Company Law Scheme of Arrangement Creditors' Rights Cross Border Recognition

Source-derived case record

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Parties

Haya Holdco 2 plc

Applicant

Procedural Posture

Insolvency Scheme of Arrangement / Sanction Hearing

Legal Issues

  1. 1 Whether the proposed scheme of arrangement under section 899 of the Companies Act 2006 should be sanctioned
  2. 2 Whether statutory requirements and class representation were satisfied
  3. 3 Whether the scheme is fair and reasonable and free from defects

Ratio Decidendi

The scheme met all statutory requirements, was overwhelmingly supported by creditors, modifications were technical and not materially adverse, and the scheme is likely to be recognised in Spain. The court therefore sanctioned the scheme.

Court Disposition

Scheme sanctioned

Orders

  • The court sanctions the modified scheme of arrangement as presented.