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restructuring plancross class cram downpari passu
Re AGPS Bondco plc
[2023] EWHC 916 (Ch)
Key Principle
A Part 26A restructuring plan may be sanctioned through the cross-class cram down in s.901G of the Companies Act 2006 despite a dissenting class, where the statutory conditions and the court's discretionary fairness assessment are met (the Adler plan) - though this first-instance sanction was subsequently set aside on appeal.
Area of Law
General
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