Zodiac Pool Solutions SAS, Re

Zodiac Pool Solutions SAS, Re

Senior Scheme Creditors have the same or similar rights for the purposes of the scheme and may be placed in a single class; differences in interests or motivations do not warrant separate classes.

Parties
Applicant: Zodiac Pool Solutions SAS; Applicant: Zodiac European Pools SAS; Applicant: Zodiac International SAS; Applicant: Zodiac Pool Solutions North America, Inc.; Applicant: Zodiac Pool Systems, Inc.; Applicant: Marine Investment Finland OY; Supporting Creditor: Bank of Ireland; Opposing Creditor: Avenue Capital
Jurisdiction
England and Wales
Judgment Date
03 July 2014
Procedural Posture
Scheme of Arrangement / Application for Convening Creditors' Meetings
Outcome
Application granted
Legal Topics
Schemes of Arrangement, Class Composition, Jurisdiction, Creditor Rights
Company Law Insolvency Law Schemes of Arrangement Class Composition Jurisdiction Creditor Rights

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 2 Authorities cited 5 Party arguments 2
Sign in to unlock

Parties

Zodiac Pool Solutions SAS

Applicant

Zodiac European Pools SAS

Applicant

Zodiac International SAS

Applicant

Zodiac Pool Solutions North America, Inc.

Applicant

Zodiac Pool Systems, Inc.

Applicant

Marine Investment Finland OY

Applicant

Bank of Ireland

Supporting Creditor

Avenue Capital

Opposing Creditor

Procedural Posture

Scheme of Arrangement / Application for Convening Creditors' Meetings

Legal Issues

  1. 1 Jurisdiction of English court over foreign companies for schemes of arrangement
  2. 2 Correct identification and composition of creditor classes for scheme meetings

Ratio Decidendi

Senior Scheme Creditors have the same or similar rights for the purposes of the scheme and may be placed in a single class; differences in interests or motivations do not warrant separate classes.

Court Disposition

Application granted

Orders

  • Order directing convening of meetings of the classes of creditors as proposed by the applicants, with Senior Scheme Creditors in a single class