Waldorf Production UK PLC, In the Matter Of [2025] EWHC 765 (Ch) (05 March 2025)

Waldorf Production UK PLC, In the Matter Of [2025] EWHC 765 (Ch) (05 March 2025)

The court is satisfied that the jurisdictional pre-conditions under section 901A Companies Act 2006 are met, that sufficient notice has been given, that there are no obvious roadblocks to convening the meetings, and that the proposed class composition (secured and unsecured creditors) is appropriate. Directions are given for the convening of two class meetings and for the process by which any further objections or 'roadblocks' should be raised and determined.

Citation
[2025] EWHC 765 (Ch)
Parties
Applicant: Waldorf Production UK Plc; Supporting Creditor: SteerCo; Objecting Creditor: Capricorn Energy Plc; Objecting Creditor: His Majesty's Revenue and Customs (HMRC)
Jurisdiction
England and Wales
Judgment Date
05 March 2025
Procedural Posture
Restructuring Plan Convening Application / Convening Hearing
Outcome
Application granted
Legal Topics
Restructuring Plan, Part 26 a Companies Act 2006, Class Composition, Jurisdiction, Cross Border Recognition, Convening Creditors' Meetings
Insolvency Company Law Restructuring Plan Part 26 a Companies Act 2006 Class Composition Jurisdiction Cross Border Recognition Convening Creditors' Meetings

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Parties

Waldorf Production UK Plc

Applicant

SteerCo

Supporting Creditor

Capricorn Energy Plc

Objecting Creditor

His Majesty's Revenue and Customs (HMRC)

Objecting Creditor

Procedural Posture

Restructuring Plan Convening Application / Convening Hearing

Legal Issues

  1. 1 Whether the court has jurisdiction to convene meetings under Part 26A Companies Act 2006
  2. 2 Whether the proposed classes of creditors are appropriate
  3. 3 Whether there are any obvious roadblocks to sanctioning the plan

Ratio Decidendi

The court is satisfied that the jurisdictional pre-conditions under section 901A Companies Act 2006 are met, that sufficient notice has been given, that there are no obvious roadblocks to convening the meetings, and that the proposed class composition (secured and unsecured creditors) is appropriate. Directions are given for the convening of two class meetings and for the process by which any further objections or 'roadblocks' should be raised and determined.

Court Disposition

Application granted

Orders

  • Two class meetings of creditors (secured and unsecured) to be convened to consider the restructuring plan under Part 26A Companies Act 2006.
  • Directions given for disclosure and for the process by which any further objections or 'roadblocks' should be raised prior to the sanction hearing.