Provident SPV Ltd, Re [2021] EWHC 1341 (Ch) (22 April 2021)
A single class meeting of redress creditors may be convened as all are offered the same commercial deal and no material dissimilarity exists to fracture the class; adequate notice and arrangements for ascertaining wishes are provided; no legal or technical road block prevents convening the meeting.
- Citation
- [2021] EWHC 1341 (Ch)
- Parties
- Claimant: Provident SPV Limited
- Jurisdiction
- England and Wales
- Judgment Date
- 22 April 2021
- Procedural Posture
- Scheme of Arrangement Application / Application for Order Convening Creditors' Meeting
- Outcome
- order granted
- Legal Topics
- Scheme of Arrangement, Creditor Class Composition, Redress Claims, Fairness Assessment, Jurisdictional Threshold, Notice Requirements
Case Brief
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Parties
Provident SPV Limited
Claimant
Procedural Posture
Scheme of Arrangement Application / Application for Order Convening Creditors' Meeting
Legal Issues
- 1 Whether a single class meeting of scheme creditors may be convened
- 2 Adequacy of notice to scheme creditors
- 3 Existence of jurisdiction under Companies Act 2006
Ratio Decidendi
A single class meeting of redress creditors may be convened as all are offered the same commercial deal and no material dissimilarity exists to fracture the class; adequate notice and arrangements for ascertaining wishes are provided; no legal or technical road block prevents convening the meeting.
Court Disposition
order granted
Orders
- Order convening a single meeting of scheme creditors in the form set out in the draft order approved by the court
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