OutsideClinic Ltd (The Companies Act 2006), Re

The statutory conditions for convening creditor meetings under Part 26A Companies Act 2006 are satisfied: the company is insolvent and proposes a restructuring plan to address its financial difficulties; the class composition is appropriate given the differing rights and treatment of creditors; and adequate notice and explanatory statements have been provided. The convening order is granted with directions for meetings and the sanction hearing.

Parties: Applicant: OutsideClinic Limited
Jurisdiction: England and Wales
Judgment Date: 07 April 2025
Procedural Posture: Insolvency Application (restructuring Plan) / Convening Hearing for Creditor Meetings
Outcome: Convening order granted
Legal Topics: Restructuring Plan, Cross Class Cram Down, Creditor Meetings, Companies Act 2006 Part 26 a

Insolvency Law Company Law Restructuring Plan Cross Class Cram Down Creditor Meetings Companies Act 2006 Part 26 a

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Parties

OutsideClinic Limited

Applicant

Procedural Posture

Insolvency Application (restructuring Plan) / Convening Hearing for Creditor Meetings

Legal Issues

1 Whether the statutory conditions for convening creditor meetings under Part 26A Companies Act 2006 are met
2 Whether class composition for creditor meetings is appropriate
3 Whether notice and explanatory statement are adequate

Ratio Decidendi

Court Disposition

Convening order granted

Orders

Meetings of seven classes of creditors to be convened on 17 and 18 March 2025 to vote on the restructuring plan
Sanction hearing listed for 27 and 28 March 2025