Telewest Finance v [2004] JRC 109 (18 June 2004)

Telewest Finance v [2004] JRC 109 (18 June 2004)

The Scheme was properly convened, creditors acted bona fide, and the Scheme is reasonable and in the best interests of the class; therefore, the court sanctions the Scheme under Article 125(2).

Citation
[2004] JRC 109
Parties
Representor: Telewest Jersey
Jurisdiction
Jersey
Judgment Date
18 June 2004
Procedural Posture
Scheme of Arrangement / Sanction Hearing
Outcome
Scheme sanctioned
Legal Topics
Scheme of Arrangement, Creditor Meetings, Court Sanction
Insolvency Company Law Scheme of Arrangement Creditor Meetings Court Sanction

Case Brief

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Parties

Telewest Jersey

Representor

Procedural Posture

Scheme of Arrangement / Sanction Hearing

Legal Issues

  1. 1 Whether the Scheme meeting was properly convened and representative
  2. 2 Whether the Scheme is one which creditors might reasonably approve
  3. 3 Whether all statutory and procedural requirements have been met

Ratio Decidendi

The Scheme was properly convened, creditors acted bona fide, and the Scheme is reasonable and in the best interests of the class; therefore, the court sanctions the Scheme under Article 125(2).

Court Disposition

Scheme sanctioned

Orders

  • Scheme sanctioned under Article 125(2) of the law
  • Scheme not to be made effective until conditions regarding the English Registrar of Companies and US Bankruptcy Court are satisfied