OutsideClinic Ltd, In the Matter Of (Re Companies Act 2006) [2025] EWHC 1560 (Ch) (24 February 2025)
The Court is satisfied that the statutory threshold conditions for convening creditor meetings under Part 26A Companies Act 2006 are met, including financial difficulty, a proposed compromise, proper class composition, and adequacy of notice and explanatory statement. Seven distinct creditor classes are identified, and separate meetings are ordered.
- Citation
- [2025] EWHC 1560 (Ch)
- Parties
- Applicant: OutsideClinic Limited; Creditor: HMRC
- Jurisdiction
- England and Wales
- Judgment Date
- 24 February 2025
- Procedural Posture
- Restructuring Plan Application / Convening Hearing
- Outcome
- Convening order granted
- Legal Topics
- Restructuring Plan, Cross Class Cram Down, Creditor Meetings, Companies Act 2006 Part 26 a
Case Brief
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Parties
OutsideClinic Limited
Applicant
HMRC
Creditor
Procedural Posture
Restructuring Plan Application / Convening Hearing
Legal Issues
- 1 Adequacy of notice for convening hearing
- 2 Jurisdiction under Companies Act 2006
- 3 Threshold conditions for restructuring plan
Ratio Decidendi
The Court is satisfied that the statutory threshold conditions for convening creditor meetings under Part 26A Companies Act 2006 are met, including financial difficulty, a proposed compromise, proper class composition, and adequacy of notice and explanatory statement. Seven distinct creditor classes are identified, and separate meetings are ordered.
Court Disposition
Convening order granted
Orders
- Seven separate creditor meetings to be convened on 17 and 18 March 2025
- Sanction hearing listed for 27 and 28 March 2025
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