Revolution Bars Limited, Re

Revolution Bars Limited, Re

The statutory requirements for sanctioning the restructuring plan, including cross-class cram down, are satisfied. The relevant alternative is administration, in which dissenting classes would be no better off. The plan is fair, offers better returns than the relevant alternative, and no creditor has objected. The plan is sanctioned.

Parties
Applicant: Revolution Bars Limited
Jurisdiction
England and Wales
Judgment Date
20 November 2024
Procedural Posture
Insolvency/restructuring Plan Sanction Application / Judgment on Sanction of Restructuring Plan
Outcome
Plan sanctioned
Legal Topics
Restructuring Plan, Cross Class Cram Down, Sanction Hearing, Creditors' Rights
Insolvency Law Company Law Restructuring Plan Cross Class Cram Down Sanction Hearing Creditors' Rights

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Parties

Revolution Bars Limited

Applicant

Procedural Posture

Insolvency/restructuring Plan Sanction Application / Judgment on Sanction of Restructuring Plan

Legal Issues

  1. 1 Whether the statutory requirements for sanctioning a restructuring plan under Part 26A of the Companies Act 2006 are met
  2. 2 Whether the court should exercise its discretion to sanction the plan, including cross-class cram down under s901G CA 2006
  3. 3 Whether the plan is fair and does not unfairly prejudice dissenting creditors

Ratio Decidendi

The statutory requirements for sanctioning the restructuring plan, including cross-class cram down, are satisfied. The relevant alternative is administration, in which dissenting classes would be no better off. The plan is fair, offers better returns than the relevant alternative, and no creditor has objected. The plan is sanctioned.

Court Disposition

Plan sanctioned

Orders

  • The restructuring plan under Part 26A of the Companies Act 2006 is sanctioned as proposed by Revolution Bars Limited.