McCarthy & Stone Plc, Re

McCarthy & Stone Plc, Re

The court sanctioned the scheme of arrangement because all statutory requirements were met, the scheme was fairly approved by a strong majority of shareholders, it was one that an intelligent and honest shareholder might approve, and there were no blots or defects in the scheme.

Parties
Applicant: McCarthy & Stone PLC
Jurisdiction
England and Wales
Judgment Date
28 January 2021
Procedural Posture
Scheme of Arrangement (companies Act 2006) / Sanction Hearing
Outcome
Scheme of arrangement sanctioned
Legal Topics
Scheme of Arrangement, Shareholder Approval, Court Sanction
Company Law Insolvency Law Scheme of Arrangement Shareholder Approval Court Sanction

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 1 Authorities cited 2 Party arguments 2 Amounts and remedies 7
Sign in to unlock

Parties

McCarthy & Stone PLC

Applicant

Procedural Posture

Scheme of Arrangement (companies Act 2006) / Sanction Hearing

Legal Issues

  1. 1 Whether the statutory requirements for sanctioning a scheme of arrangement under Part 26 of the Companies Act 2006 have been met
  2. 2 Whether the scheme was fairly approved by the requisite majority of shareholders
  3. 3 Whether the scheme is one that an intelligent and honest shareholder might approve

Ratio Decidendi

The court sanctioned the scheme of arrangement because all statutory requirements were met, the scheme was fairly approved by a strong majority of shareholders, it was one that an intelligent and honest shareholder might approve, and there were no blots or defects in the scheme.

Court Disposition

Scheme of arrangement sanctioned

Orders

  • The scheme of arrangement between McCarthy & Stone PLC and its shareholders is sanctioned as sought.