Syncreon Group BV, Re
The court sanctioned the schemes because all statutory requirements were met, creditor classes were properly constituted and fairly represented, the schemes were fair and reasonable, there was no blot, the court had jurisdiction, and the schemes were likely to be effective in relevant jurisdictions.
- Parties
- Applicant: Syncreon Group BV; Applicant: Syncreon Automotive (UK) Ltd; Respondent: Ad Hoc Group
- Jurisdiction
- England and Wales
- Judgment Date
- 10 September 2019
- Procedural Posture
- Companies Act Scheme of Arrangement / Sanction Hearing
- Outcome
- Schemes of arrangement sanctioned
- Legal Topics
- Schemes of Arrangement, Debt Restructuring, Jurisdiction, Creditor Meetings, Sanction of Schemes
Case Brief
Summary, issues, holding and outcome
More case intelligence is available
Unlock the full research layer for this judgment.
Parties
Syncreon Group BV
Applicant
Syncreon Automotive (UK) Ltd
Applicant
Ad Hoc Group
Respondent
Procedural Posture
Companies Act Scheme of Arrangement / Sanction Hearing
Legal Issues
- 1 Whether the statutory requirements for sanctioning a scheme of arrangement under section 899 of the Companies Act 2006 are met
- 2 Whether the classes of creditors were properly constituted and fairly represented
- 3 Whether the scheme is fair and reasonable
Ratio Decidendi
The court sanctioned the schemes because all statutory requirements were met, creditor classes were properly constituted and fairly represented, the schemes were fair and reasonable, there was no blot, the court had jurisdiction, and the schemes were likely to be effective in relevant jurisdictions.
Court Disposition
Schemes of arrangement sanctioned
Orders
- Order sanctioning the schemes of arrangement for Syncreon Group BV and Syncreon Automotive (UK) Ltd
Full Case Text
Judgment text and source record
Sign in to read
Sign in to read the full judgment text
Sign in to read the full judgment text. Downloads and additional research tools may depend on your plan.
Sign in to read the full judgment