The Representation of Santander UK Plc and Abbey National Treasury Services Plc [2018] JRC 229 (11 December 2018)

The Representation of Santander UK Plc and Abbey National Treasury Services Plc [2018] JRC 229 (11 December 2018)

The court is satisfied that procedural requirements have been complied with and that the scheme is fair, based on the commercial judgment of the directors and confirmation from the Commission and Independent Auditors Report.

Citation
[2018] JRC 229
Parties
Applicant: Advocate Cushing; Respondent: objector
Jurisdiction
Jersey
Judgment Date
11 December 2018
Procedural Posture
Scheme Sanction Application / Judgment
Outcome
scheme sanctioned
Legal Topics
Scheme of Arrangement, Procedural Compliance, Commercial Judgment
Banking Law Company Law Scheme of Arrangement Procedural Compliance Commercial Judgment

Case Brief

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Parties

Advocate Cushing

Applicant

objector

Respondent

Procedural Posture

Scheme Sanction Application / Judgment

Legal Issues

  1. 1 Whether procedural requirements under the Banking Business (Jersey) Law 1991 have been complied with
  2. 2 Whether the scheme as a whole is fair

Ratio Decidendi

The court is satisfied that procedural requirements have been complied with and that the scheme is fair, based on the commercial judgment of the directors and confirmation from the Commission and Independent Auditors Report.

Court Disposition

scheme sanctioned

Orders

  • Changes to the ANIL Scheme as proposed by Advocate Cushing are approved