Representation of Regus Plc [2016] JRC 233 (15 December 2016)

Representation of Regus Plc [2016] JRC 233 (15 December 2016)

The scheme complies with statutory requirements, was fairly approved by a properly represented majority acting bona fide, affects all shareholders equally, and presents no 'blot'; thus, sanction is appropriate.

Source-derived case information.

Citation
[2016] JRC 233
Parties
Applicant: Regus Plc; Respondent: IWG plc
Jurisdiction
Jersey
Judgment Date
15 December 2016
Procedural Posture
Scheme of Arrangement / Sanction Hearing
Outcome
scheme sanctioned
Legal Topics
Scheme of Arrangement, Corporate Reorganisation, Share for Share Exchange, Capital Reduction
Company Law Scheme of Arrangement Corporate Reorganisation Share for Share Exchange Capital Reduction

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Parties

Regus Plc

Applicant

IWG plc

Respondent

Procedural Posture

Scheme of Arrangement / Sanction Hearing

Legal Issues

  1. 1 Whether the scheme of arrangement under Article 125 of the Companies (Jersey) Law 1991 should be sanctioned
  2. 2 Whether statutory requirements and procedural fairness have been met
  3. 3 Whether the scheme is fair to shareholders

Ratio Decidendi

The scheme complies with statutory requirements, was fairly approved by a properly represented majority acting bona fide, affects all shareholders equally, and presents no 'blot'; thus, sanction is appropriate.

Court Disposition

scheme sanctioned

Orders

  • Scheme of arrangement sanctioned as per draft order
  • Court order to be delivered to registrar for registration